The National Bank of Ukraine (NBU) has approved VS Bank (Lviv) merger with TAScombank (Kyiv) under a simplified procedure, VS Bank reported on its website.
“On July 11, 2018, VS Bank received the NBU’s permission for reorganization via the merger of VS Bank with TAScombank under the simplified procedure,” reads the report.
The merger will be conducted in line with the reorganization plan approved at the general meeting of shareholders of each bank and a merger agreement. TAScombank will become the legal successor of VS Bank’s rights and obligations.
TAS Group was founded in 1998. It has assets in the financial and industrial sectors, agriculture, real estate, pharmaceuticals, and venture projects. The financial sector of the group includes TAScombank, Universal Bank, VS Bank, two insurance companies and several other organizations. The founder and the main shareholder of the group is Sergiy Tigipko.
According to the NBU, as of January 1, 2018 the major owner of TAScombank was Sergiy Tigipko, who owned 99.86851% of securities.
Sberbank sold VS Bank as part of the implementation of its strategy to leave the Ukrainian banking market.