Italy's Intesa Sanpaolo in talks to sell Ukrainian lender -source | Reuters

Italy's Intesa Sanpaolo in talks to sell Ukrainian lender -source | Reuters:

"Italy's biggest retail bank Intesa Sanpaolo is in talks to sell its Ukrainian subsidiary Pravex-bank, a source close to the talks told Reuters on Tuesday.

Ukraine's banking sector was hit hard by the 2008 devaluation of the hryvnia, which made it hard for many borrowers to repay loans denominated in foreign currency and prompted a number of western European lenders to sell operations there.

"They are actively looking for a buyer," the source said, without indicating how much the Italian bank expects to raise from selling Pravex-bank."

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