Erste Bank Group Prepares Move Into Ukraine's Real Estate Scene

Business daily Kommersant reported that Erste Bank Group’s daughter company Sparkassen Immobilien AG has registered the entity Austria Real Invest in Ukraine, which will be involved in investments in warehouse, residential and office real estate. Austria Real Invest General Director Mikhail Merkulov said the company has been looking at Ukraine for a few years, and is currently carrying out market research and searching for partners. Erste Bank completed the acquisition of a 100% stake in Bank Prestige, Ukraine’s #72 bank by assets in January.