KIEV, June 16 - Swedbank has decided to merge its two subsidiaries in Ukraine - Swedbank and Swedbank Invest, the parent bank said in a statement.

The statement said that, at an extraordinary meeting on June 15, shareholders in Swedbank decided to merge with Swedbank Invest.

The merger is set to reach conclusion by the end of 2009.

The press release said that the merger will allow the banks to consolidate their financial resources, simplify capitalization procedures, optimize management and administrative expenditures, increase quality of risk management and form more positive conditions for the provision of services to clients.