It was a subsidiary of Alfa Group via a Luxembourg incorporated company АВН Holdings.

In 2011 UniCredit acquired a major Ukrainian bank "Ukrsotsbank" that traces its history to the late Soviet Union.

[citation needed] Ukrsots bank was established in October of 1990 and based on the Ukrainian republican chambers of the Soviet Sotsbank.

[2] In October 2019 Ukrsotsbank was fully merged with Alfa-Bank (Ukraine), who became the "full successor of all rights and obligations of Ukrsotsbank with respect to its clients, partners and counterparties.

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