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Ukrainian banks merge ATM networks to compete

April 12, 2006

Kyiv Post:Banks owned by two of Ukraine's richest tycoons have decided to merge their ATM networks to compete with Ukrainian competitors like Privatbank, which has a network of 1,400 ATMs. Ukrsotsbank, a top-five Ukrainian bank in the process of being sold, announced its deal with First Ukrainian International Bank in early April. Another Ukrainian bank, ProCredit Bank, also is expected to join the ATM merger, the details of which are still being worked out. The banks are expected to finalize the conditions of the merger, which will create a network of 1,400 ATMs, later this month.

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