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Swedbank is Interested in the Ukrainian Purchase

Swedbank is greatly interested in acquiring a Ukrainian bank and collection agency, a Kyiv daily admitted on Tuesday, quoting banking sources.

Ekonomicheskiye Izvestiya reported Swedbank was considering the purchase of the European Agency for Return of Debts, a collection agency with a portfolio of 91 million hryvnias, or $18.8 million, according to its director.

The deal would also include the purchasing of Business Standard bank, ranked 95th in size among Ukraine`s 178 acting banks, with 14 branches mainly serving small business.

Swedbank officials in Sweden didn't comment the report.

The daily reported the head of the bank`s board, Serhiy Tigipko, was seeking as much as $329 million, but added market experts expected a price closer to $50 million.

"This is pretty longtermed process, with many sides taking part. And it is not over yet," the daily quoted the bank`s CEO, Andriy Kiyak, as saying.



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