Platinum Bank's New Shareholders Became Group of Financial Investors
On the 18th of November, 2013 was closed the deal on the acquisition of 100% of shares of Platinum Bank, formerly belonging to a group of investment funds (Horizon Capital, East Capital, IFC, FPP Asset Management), management and other minority shareholders. New shareholders of Platinum Bank became a group of financial investors, which includes the private equity fund - European Infrastructure Investment Company (“ЕIIC”, Luxembourg).
Greg Krasnov, CEO of Platinum Bank: “Our bank’s shareholders have always been investment funds. We are pleased that this tradition continues. Our new shareholders are interested in the dynamic development of the bank, implementation of innovations and achievement of ambitious new goals. They fully support our 5-year strategic development plan, which includes the transition from product-focused to customer-focused bank. We will introduce new products that were not previously available to the mass segment of customers, offer package services, develop the agency channel and other alternative distribution channels.”
Operational management of Platinum Bank will remain under the control of the Management Board with the leadership of Greg Krasnov, who is now receiving the approval of the National Bank of Ukraine to the position of the Management Board Chairman.
Gregory Gurtovoy, the representative of private equity fund EIIC, one of the new shareholders of Platinum Bank, commented on the transaction: “One of the main focuses of our investment fund is the financial sector in emerging markets. We are pleased to make our first portfolio investment in the Ukrainian banking market. We greatly appreciated the results of Platinum Bank’s team, and we see the opportunities for even further development of the bank.”
Since Platinum Bank’s establishment in 2005, it managed to become one of the leading players in the financial services market of Ukraine. In May 2013, it entered the TOP-3 list of the most socially responsible companies in Ukraine according to the publication “GVardiya” and became the only bank in Ukraine to enter the top list of “Companion” magazine – “10 Inspiring Companies” in 2012. In 2011, Platinum Bank won the "Best Retail Bank" in the rating of “Ukrainian Banker Awards 2011” (“Investgazeta”), as well as was recognized as one of the best employers in Ukraine according to the research on staff involvement “Best Employers – 2011”. Greg Krasnov, Platinum Bank’s CEO, won the title of “Financier of the Year – 2011” within the framework of the national award “Person of the Year – 2011”.
"We are very pleased with this sale of one of our outstanding portfolio companies. Platinum Bank, under its very capable leadership, is certain to continue its dynamic growth and impressive business success in this marketplace under its new ownership”, - said Natalie Jaresko, founding partner and CEO of Horizon Capital.
NOTE TO EDITORS:
Platinum Bank (www.platinumbank.com.ua) — is a specialized retail bank, which since 2005 has been offering deposit and loan products for individuals through a network of branches and points of sale across the whole territory of Ukraine. The main shareholders of Platinum Bank are the group of financial shareholders, including the private equity fund European Infrastructure Investment Company (“ЕIIC”, Luxembourg, http://www.eiic.lu/).