Ukrainian Police Raid Ukrsotsbank Central Office in Kiev

KIEV, Ukraine -- Ukrainian economic crime police raided the central office of the country’s sixth-largest lender by assets, PAT Ukrsotsbank, in Kiev following a ruling by a regional court.

Ukrsotsbank a subsidiary of UniCredit Bank Austria AG.

The office closed because of the today’s search, Anastasia Pestrikova, head of external relations at Ukrsotsbank, said by phone, without elaborating.

The lender is a subsidiary of UniCredit Bank Austria AG.

The search followed a ruling by the Leninskyi district court in Donetsk, Interfax-Ukraine newswire reported today, citing a person familiar with matter.

A spokesman for the Internal Affairs Ministry in Donetsk Region did not answer his phone when called by Bloomberg News.

The Leninskyi district court in Donetsk also did not answer calls.

Graziano Cameli was named Ukrsotsbank’s new chief executive officer in July after the former CEO, Borys Tymonkin, resigned for a senior management post at Vetek Group.

UniCredit Bank Austria wrote down Ukrsotsbank’s goodwill by 165 million euros ($223 million) in March.

Ukrsotsbank reported an increase in its first half net income to 6.49 million hryvnia ($0.8 million) from 4.47 million hryvnia a year earlier, according to local accounting standards, the bank said on its website.

Source: Bloomberg