Ukrsotsbank : Alfa-Bank Ukraine and Ukrsotsbank Leadership Changes

Ivan Svitek took decision to resign from the post of general manager of Alfa-Bank Banking Group Council and will leave the united Alfa-Bank Ukraine and Ukrsotsbank in October 2019 after the completion of the unique project to consolidate and transform the banking assets of ABH Holdings in Ukraine and the legal merger of two large Ukrainian banking structures.

Ivan Svitek, is a top-level manager with extensive experience in the financial sector in the countries of the European Union, Eastern Europe and Latin America, he headed the team of Alfa-Bank Ukraine in February 2017. In February 2018, he was appointed Chairman of the Board of Ukrsotsbank.

Under the leadership of Ivan Svitek, Alfa-Bank Ukraine and Ukrsotsbank underwent unique for the Ukrainian market transformation, which resulted in the profitable activities of Alfa-Bank Ukraine, significant reduction in the NPL and non-core assets portfolio, strengthening the position of the united bank in SME and retail business. In 2017, Alfa-Bank Ukraine started introduction of innovative corporate culture and active cooperation with representatives of the fintech infrastructure.

Rafal Juszczak will succeed Ivan Svitek in the position of general manager of Alfa-Bank Ukraine. Since 2015 Rafal Juszczak served as СEO of Alfa-Bank CJSC (Belarus), and in April 2019, he was appointed a member of the Supervisory Board of Alfa-Bank Ukraine. Rafal Yushchak has over 22 years of experience on senior positions in various banking institutions. He headed the boards of directors and managed a number of financial organizations, including Polish bank PKO Bank Polski and the First Ukrainian International Bank.

'We highly appreciate Ivan's contribution to the transformation and growth of the group's bank, which will undoubtedly lead to the creation of the largest private player in the Ukrainian financial market. This management change will support our group ambitions in the struggle for leadership on the national market', said Petr Aven, Chairman of the Board of Directors of ABH Holdings S.A., Member of the Supervisory Board of Alfa-Bank Ukraine.

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank's client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.

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