/24-7PressRelease/ - UKRAINE - July 09, 2007 - Privately-owned bank, UkrGasBank is ranked #17 in terms of total assets among 170 licensed banks with a market share of 1,3%. The bank positions itself as one of the major and most dynamic Tier 2 banks in Ukraine with assets of USD883m and equity of USD94m as of end 2006.
A sizeable player in the Ukrainian banking market with nation-wide network coverage, UkrGasBank offers potential strategic partners an excellent growth platform. The Bank's development was particularly impressive in 2006, following its strategic re-focus in late 2005 on retail banking with individuals and small business. Its total assets, loans and deposits grew by 87%, 80% and 69% respectively compared to 58%, 72% and 37% growth rates for the banking sector as a whole. In the meantime, sustained business growth is ensured by a heavy emphasis on enhanced risk management policies.
UkrGasBank's transparency and new public information policy is reflected in its internationally audited accounts and improved ratings as well as enhanced dialogue with the public. The Bank is audited by Deloitte & Touche and publishes IFRS accounts since 1997. In 2006, the Bank was assigned the following ratings by Moody's Investors Service: B2 long-term/Not Prime short term foreign currency deposit rating and E+ financial strength rating. In addition, the Bank was assigned the uaBBB+ long-term credit rating (national scale) by Credit Rating, a local agency.
In December 2006, UkrGasBank made a debut in international capital market by raising its first syndicated loan. A total of 8 financial institutions from 6 countries joined the transaction.
In March 2007, the Bank was the first Ukrainian bank to issue UAH-denominated mortgage bonds within the framework of the USAID-sponsored "Access to credit initiative" program.
In 1H 2007, UkrGasBank intends to enter capital markets with new syndicated loans. Furthermore, in 2H 2007, the Bank intends to strengthen its presence on the markets with a USD100 m Eurobonds issue and will seek to obtain a second international credit rating.
UkrGasBank proudly positions itself as a new generation of Ukrainian banks - ambitious in growth and prudent on risks, focused on enhancing its competitive strengths and fully understanding challenges and opportunities, transparent and well governed, reliable to its clients and partners, bullish on Ukraine and its future.
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