Getin Holding hopes to complete sale of Ukrainian bank Idea in Q1 2025

"I think it is the first quarter of next year, that is a realistic deadline," the CEO said when asked about a possible date for the finalisation of the sale of the Ukrainian bank.

In October, Getin Holding reported that it had entered into a conditional agreement to sell 100 percent of Idea Bank Ukraine with Alkemi Limited, a company belonging to Ukrainian financial and industrial group TAS.

It was reported at the time that the price of the transaction would be no less than USD 34 million and was conditional on the approval of the Ukrainian antitrust regulator and the approval of the acquisition of Idea Bank shares by the National Bank of Ukraine.

"We are keeping our hand in. The buyer is preparing two large applications - to the antimonopoly regulator (which is already submitted) and a second larger one, to the National Bank of Ukraine," the CEO of Getin Holding said.

"(...) We do not know how long these proceedings will last, by the very nature of such applications analysis must take time," he added.

The CEO did not reveal what the further fate of Getin Holding will be after this transaction.

Idea Bank Ukraine operates in the retail business segment and focuses its activities on offering products and services for individuals. The bank's main products are products for individuals - cash loans, credit cards, deposits, current accounts and debit cards.

At the end of June this year, Idea Bank Ukraine's total assets amounted to almost USD 162 million.

seb/ ao/ nl/