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FX debate

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The world’s largest banks 2008

The world’s largest banks 2008

Guide to the leading banks across the globe by market capitalization

Friday, February 29, 2008

Antimonopoly committee approves Intesa Sanpaolo purchase of Pravex bank.





Antimonopoly committee approves Intesa Sanpaolo purchase of Pravex bank. Antimonopoly committee decided to approve Intesa Sanpaolo S.p.A purchase of more than 50% stake in Pravex bank. To remind, Intesa Sanpaolo banking group agreed with Pravex bank on the purchase of 100% stake. The value of the deal is amounting to USD 750mn. Pravex bank net assets amounted to UAH 6,075.3mn (USD 1,203mn), the credit portfolio stood at UAH 3,921.1mn, and its equity reached 724.8mn as of Jan 1, 2008. Pravex bank posted net profit of UAH 24.401mn in 2007 after finishing 2006 with UAH 83.271mn. Kyiv's mayor Leonid Chernovetskyi holds 46.2% directly and 36.75% indirectly in the bank.







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