In brief
Ukraine’s central bank has approved NovaPay Invest’s acquisition of a 100% stake in BTA Bank. The purchase would be a first step towards the Nova owners’ planned financial inclusion bank, which still requires a separate licence.
The National Bank of Ukraine approved NovaPay Invest’s direct acquisition of 100% of BTA Bank’s share capital, UNIAN reported, citing the regulator. The central bank’s board made the decision on November 12 after reviewing the applicants’ documents.
The acquisition is intended as the first step in plans by Nova group owners Viacheslav Klymov and Volodymyr Popereshniuk to establish a financial inclusion bank. Such institutions are intended to serve individuals and microbusinesses with limited access to financial services.
Buying BTA Bank would not automatically give it that status. UNIAN reported that further steps include preparing a strategy and business plan, meeting regulatory requirements and obtaining a restricted banking licence. The report did not establish that the acquisition had been completed or specify its price or completion date.
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