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02.06.2016 | 18:45
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Did you know

Raiffeisen Bank Aval - godfather of the banking system

Photo from: http://image.zn.ua/
Photo from: http://image.zn.ua/

The history of the largest bank in Ukraine, the "blue chip", recognized as the best in Eastern Europe.

Chronicles of the leader inception 

Raiffaisen Bank Aval was established and registered with the National Bank of Ukraine in March 1992 as Open Joint Stock Company "Joint Stock Commercial Bank "Aval" in March 1993, and in 1993, it received a license to perform currency transactions. In 1994, the financial institution changed its name: having passed the re-registration, the bank was renamed to Joint-Stock Postal and Pension Bank "Aval".

1995 was remarkable by the receipt of accreditation, which made implementing of EBRD (the European Bank for Reconstruction and Development) projects possible. In 1996, the bank became member of international payment systems Europay and Visa. Nowadays, of course, this seems to be taken for granted. At the end of the last century, in 1999, "Aval" became one of the participants in State Guarantee Fund, which is also not surprising practice for today.

In 2002, the bank's authorized capital reached those days Ukraine record - 500 million UAH

Bank's pension orientation was rewarded: in 2001, Raiffeisen Bank Aval became the first bank in Ukraine to introduce pensions payment with a plastic card ("Onix Pensiynyi"), as well as its own system of urgent money transfers "Aval-Express".

Not by merits and products alone... A year later, authorized capital of the bank reached the highest mark in the history of Ukrainian banks - 500 million USD, and "Aval" entered the top 100 banks in Central and Eastern Europe according to Standard & Poor's rating.

In the meantime, in 2002, the bank issues bonds amounted to 80 million USD.

In 2004, the bank achieved a record amount of authorized capital totalling more than 1 billion UAH.

Ownership changes chronicles

M&A-deal between the financial institution and European banking group with headquarters in Austria, Raiffeisen Bank International AG is used as case-study on bank assets sale-purchase. This operation is, in fact, broke the ice for such acquisition of domestic banks by foreign institutions.

In 2005, Raiffeisen Group bought 93% of "Aval", having paid 1 billion USD.

Thus, omitting the details, in August 2005, Raiffeisen Group purchased 93% of "Aval", having paid 1 billion USD, and then another 28 million USD - for the processing center. As a result, since October 2005 the bank has been considered to be the part of Raiffeisen Bank International holding group, and in September 2006, the bank was renamed into Open Joint Stock Company "Raiffeisen Bank Aval". By the way, according to the legal requirements, in 2009 the bank changed its legal name and became public joint stock company.

And in 2015, the European Bank for Reconstruction and Development has joined the composition of bank's shareholders.

Today, Austrians own slightly more than 87% of the bank's capital.

РБА

More information about owners of the financial institution, its exchange rates, reporting data can be found in our section company's profile.

Changes of quotations shares of the Bank (ticker - BAVL) can be monitored in the weekly category by StockWorld "Data on the leading trading companies in Ukraine. Weekly changes in blue chips indices" 

References in the article: did you know, blue chips, raiffaisen bank, aval
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