Fidobank paid $83 million (about EUR63 million) for Erste Bank Ukraine, the Austrian lender said in a statement.
“This transaction is consistent with Erste Group’s focus on customer business in the eastern part of the European Union,” Erste said.
Erste Bank Ukraine will be merged with Fidobank and operate under the latter’s name. End-2012, Erste Bank Ukraine had a total unconsolidated balance sheet of EUR676 million and employed 1,530 staff.