Getin Holding exits Ukraine with sale of Idea Bank Ukraine

Getin Holding concluded a conditional sale agreement of 100% of Idea Bank Ukraine shares. The buyer is First Ukrainian International Bank, Getin Holding said. The management board hopes that the sale of Ukrainian assets will be finalized in the first quarter of 2022.

“As announced, we have successfully completed the important stage of searching for a new strategic investor for Idea Bank Ukraine (…). I hope that the conditional agreement for the sale of our Ukrainian assets will be finalized in the first quarter of next year” – said the president of Getin Piotr Kaczmarek.

According to the agreement, the price for the shares of Idea Bank Ukraine will be the euro equivalent of 1.072 of the bank’s book value at the end of 2021, determined in accordance with the balance sheet audited by the company from the so-called The big four.

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