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Sorainen Advises PrivatBank Client Portfolio and Assets and Liabilities Transfer to Industra Bank

Sorainen Advises PrivatBank Client Portfolio and Assets and Liabilities Transfer to Industra Bank

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Sorainen has advised PrivatBank on transferring its client portfolio and part of its assets and liabilities to Industra Bank.

According to Sorainen, "the total of the loans included in the transaction was approximately EUR 25 million, and the amount of deposits exceeded EUR 50 million. The transaction received the permission of the Financial and Capital Market Commission and was completed on August 20, 2022."

The Sorainen team included Partners Rudolfs Engelis and Jorens Jaunozols, Counsels Santa Rubina, Janis Bite, and Andis Burkevics, and Senior Associates Edvins Draba and Maris Simulis.

Sorainen did not respond to our inquiry on the matter.