Ukrainian Delta Bank to be bought by Dubai Group?
10 June 2008
Mykola Lagun, the owner of Ukrainian Delta Bank, is in talks to sell his 100% stake in the bank for over USD 1 bln to Dubai Financial Group, daily Ekonomicheskie Izvestia said yesterday, referring to an undisclosed source. The article said that a preliminary acquisition agreement could be inked by the end of August. Delta Bank is #35 among more than 170 Ukrainian banks by total assets, with USD 969.3 mln as of April 1, according to the National Bank of Ukraine. The bank specializes in unsecured lending. Dubai Financial Group owns over 1,000 banking branches in 26 countries, employing 16,000 individuals and serving more than four million customers.
