KIEV, Oct. 31 - Amsterdam-based TBIH Financial Services Group NV has signed an agreement to buy up to 50% of VABank.

As TBIH reported, it will initially purchase a 9.55% stake in VABank in newly issued shares for $8.75 mln and will grant the bank a $16.25 mln loan. After receiving the necessary regulatory approvals, TBIH will increase its stake to 27.3% by converting the loan into equity.