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UkrGasBank Ranks 1st in Terms of Transparency - UkrGasBank is ranked 1st with a score of 71.2% by Financial Initiatives Agency and Standard & Poor’s Governance Service
UkrGasBank Ranks 1st in Terms of Transparency

 

NewswireToday - /newswire/ - Kiev, Ukraine, 2008/11/19 - UkrGasBank is ranked 1st with a score of 71.2% by Financial Initiatives Agency and Standard & Poor’s Governance Service.

   
 
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Financial Initiatives Agency and Standard & Poor’s Governance Services announced the results of its transparency and disclosure survey of the 30 largest Ukrainian banks in 2008.

UkrGasBank is ranked 1st with a score of 71.2%

Analysts point out that UkrGasBank is the first Ukrainian bank in the history of such surveys to exceed 70%. This outcome is in line with analogous metrics of the leading financial institutions across the globe.

Sergei Krisevich, corporate secretary of UkrGasBank, notes that «UGB keeps on improving its policy of openness and transparency. Being open and see-through is one of the key pillars of corporate governance, highlighted by the Bank. At the same time, UkrGasBank does not aim at any rankings, albeit is pleased to receive such a recognition. I am confident that Bank’s openness is a pledge for the trust shown both from investors and customers. We will certainly continue our efforts in this respect».

About UkrGasBank

UkrGasBank was established in 1993. Legal form: Open Joint Stock Bank
Top 20 Ukrainian bank Total assets – USD2 613m, shareholders’ equity – USD245m as of 1 July 2008
Universal bank of a national scale with 15 years experience in the Ukrainian market
Strong focus on SME’s and retail banking
Transparency and public information policy
Corporate governance meeting international standards and world’s best practices
Accounts audited by Deloitte & Touche under IFRS since 1997
Heavy emphasis on enhanced risk management policies
Nationwide network represented by over 355 points of sale for over 18,000 corporate and 600,000 retail clients as of 1 July 2008
Principal member of MasterCard (2000), VISA (2002) and UkrCard (2002)

International and local ratings:
Fitch: Long-term IDR 'B-', Short-term IDR 'B',
National Long-term 'BBB-' (ukr), Stable
Moody’s: B2/Not prime foreign currency deposit, E+ FSR, ‘A2.ua/-‘NSR bank deposits - domestic currency, Stable

International track record:
December 2006 - $16m debut syndicated loan
June 2007 - $46m syndicated loan
December 2007 - $20m syndicated loan
August 2008 - $23m syndicated loan

Participation in international projects:
2004 - The EC TACIS programme Banking sector reform in Ukraine
2005 - The USAID Programme on Development of Mortgage Loans in Ukraine
2006 - The IFC project Corporate Governance in the Ukrainian Banking Sector
2007 - The World Bank Export Development Project-2

An active player in card, securities, bank metals market, documentary business and project finance.

 
 
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Written by / Agency / Source: UkrGasBank

 
 

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UkrGasBank Ranks 1st in Terms of Transparency

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Publisher Contact: Evgeny Molchansky - UkrGasBank.com 
+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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