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UkrGasBank's Profit Grew Three Times Faster Market Average - According to the National Bank of Ukraine information the amount of credits granted by UkrGasBank during the first six months of 2008 increased for 21,4%. During the same period UkrGasBank increased its credit portfolio for 28%
UkrGasBank's Profit Grew Three Times Faster Market Average

 

NewswireToday - /newswire/ - Kiev, Ukraine, 2008/08/19 - According to the National Bank of Ukraine information the amount of credits granted by UkrGasBank during the first six months of 2008 increased for 21,4%. During the same period UkrGasBank increased its credit portfolio for 28%.

   
 
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Ukrainian banking business is heterogeneous. Among this diversity a special interest cause the banks aimed aggressively at increasing their market share. Such strategy is vividly demonstrated by UkrGasBank - for the last six months bank net assets increased for 18%. As in the whole banking sphere such increase occurred at the expense of crediting.

One of UkrGasBank's advantages is its mobility and a possibility of quick re-orientation to the internal sources of funding. It is this fact that is considered to be a guarantee of stability in the present economic situation. For the last period UkrGasBank not only preserved its position in the market of retail crediting but also significantly strengthened it (the volume of retail crediting increased 1,5 times for the last six months). In spite of high tempo of credit portfolio increase Bank’s policy is characterized by balanced and conservative approach to the credit risks level.

As a result UkrGasBank has one of the best credit portfolio quality indicators in the market. Risks covering with formed reserves in the volume of 4,5% from the general credit portfolio volume is a preventive measure of fast-growing portfolio.

The result of the bank balanced strategy is its share significant increase in the banking services market of Ukraine. The strategic plans also foresee UkrGasBank ’s entry into top ten Ukrainian banks and the market share increase to more than 3%. Quite demonstrative is the bank profit increase in conversion to one share of a financial institution. For the period of 2005—2008 this figure grew 3(!) times. Today UkrGasBank clients are more than 100 000 natural and 18000 legal persons. As for salary projects we serve more than 320 000 people.

The most important indicator of UkrGasBank development is its regional network expansion — 19% from January till July. As for dynamics of its development UkrGasBank is among first three best Ukrainian credit-financial institutions. Today UkrGasBank has about 400 sales desks.

 
 
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Written by / Agency / Source: UkrGasBank

 
 

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UkrGasBank's Profit Grew Three Times Faster Market Average

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Publisher Contact: Evgeny Molchansky 
+380-44-5941153 emolchansky[.]ukrgasbank.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any UkrGasBank securities in any jurisdiction including any other companies listed or named in this release.

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