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CJSC Finansbank (Kyiv) changed its name to CJSC Credit Europe Bank, announced ukrainian bank on Tuesday.

CJSC Finansbank (Ukraine) officially registered the capital and changed its name to Credit Europe Bank on Wednesday,
June 6, 2007.

"The name change is due to the fact that Fiba International Holding (the owner of the CJSC Finansbank) has sold the controlling interest of Finansbank (Turkey) to the National Bank of Greece (NBG), as a result, the latter has received all the rights for using the brand name Finansbank. Accordingly, all banking institutions in structure of holding Fiba International have been renamed as Credit Europe Bank", ? it was reported in official communication.

It was also reminded in the report that the decision of the increase the capital of CJSC Finansbank in eight times, or by UAH 286 million, ? to UAH 329,088 million was accepted by the general shareholders’ meeting of the Ukrainian bank in total on January 4, 2007.

Besides that in the announcment it was reported that headquartered in Amsterdam, the Netherlands, Credit Europe Bank has affiliates in Switzerland, Ireland, Romania, France, Germany, Russia, Malta and Belgium as well as representative offices in Turkey and China.

Earlier it was informed that last year Greek NBG had agreed to buy 46% of the shares of Turkish Finansbank for EUR 2,29 billion, and also to make the public offer for purchase of the actions necessary for getting the control of the bank.
The transaction did not provide for purchase of foreign Finansbank’s business.

CJSC Finansbank was registered by National Bank of Ukraine (NBU) in August 2006 with the authorized capital UAH 43,088 million and licensed it to perform banking operations in December.

According to bank, for April, 1st, 2007 its largest shareholders were Credit Europe Bank N.V. (99,99%) and Fiba International Holding N.V (direct participation – 0,01 %, mediated – 99,99%).

According to National Bank of Ukraine for April, 1st as for the size of Finansbank’s general actives took 82nd place (UAH 541 million) among 173 operated banks.

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