Swedbank to absorb Swedbank-Invest
17 June 2009
Swedbank announced yesterday that it would absorb Swedbank-Invest in order to strengthen its position on the market during the financial crisis, following a go-ahead vote at a shareholder EGM on June 15. The bank said it plans to complete the merger by end-2009. As of April 1, Swedbank was Ukraine’s #15 largest bank by assets (UAH 15.1 bln), and Swedbank-Invest #30 (with UAH 5.3 bln) – according to the National Bank of Ukraine. The merged bank would occupy #12 place among Ukrainian banks by total assets.
