BNP Plans to Sell UkrSibbank Ukraine Retail Unit, Izvestia Says

Nov. 28 (Bloomberg) -- BNP Paribas, which owns almost 85 percent of AKIB UkrSibbank, plans to sell the retail business of the Ukrainian lender and most of its units, Ekonomicheskie Izvestia reported, citing an unidentified person in the financial market with the knowledge of the matter.

BNP Paribas wants to minimize risk because the biggest share of UkrSibbank’s loans to individuals are in dollars, the newspaper said.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net