Sources familiar with the matter were quoted by Reuters as saying, "They are actively looking for a buyer."
The business, which has been put for sale, was acquired from the family of Kyiv ex-mayor Leonid Chernovetsky, in a deal worth €493m in July 2008, as reported by the news agency.
During the financial crisis of 2008, the national currency of Ukraine Hryvnia (UAH) was devaluated by the banking regulators, which adversely affected the already deteriorating banking sector of the country.
Due to this currency depreciation, many borrowers were unable to pay back the loans denominated in foreign currency and forced a number of western European lenders to dispose of Ukrainian operations.
Other global financial organizations, including Germany-based Commerzbank and Austria’s Erste Group Bank have already divested their Ukrainian subsidiaries.
