Ukrsotsbank loan portfolio exceeded UAH 28.5 billion

Ukrsotsbank loan portfolio exceeded UAH 28.5 billion. Since the beginning of the year growth rate of Ukrsotsbank loan portfolio was 18%.

"During the first quarter of 2008, we actively credited both individuals and corporate clients - said Ukrsotsbank Chairman, Borys Tymonkin. – I want to share interesting, in my opinion, observations. The situation this year was not a typical one: if usually in the first quarter the corporate sector "slept", in the January-March 2008 - first we have grown as to loans to legal entities by two billion hryvnas. Credit appetite in the market is very high, clients have many projects. They have only felt all phases of dynamic growth and immediately faced the fact that if last year it was possible to go to foreign markets, issue the bonds and think about the IPO, today they do not have those options. They have just to go to the bank and borrow money. And we never had such situation when we start active work with corporate clients already in January. After two weeks of holidays we started choose very actively the previously approved credit limits. For Ukraine this is unusual. And in February the bank began working on a full program. There was no time to rest at each credit committee – we considered 30-40 issues. And this is without taking into account any special offers, advertising campaigns, dumping or other tricks - an objective situation on the market ".

Note

JSCB Ukrsotsbank was established in September 1990. At present, it is among the largest banks in Ukraine. The branch network of the Bank comprises 508 offices – 481 off-balance offices and 27 regional branches. The number of employees exceeds 10 000.

Financial summary, as of 1 April, 2008:

• net assets amounted to UAH 34.072 billion
• loan portfolio – UAH 27.645 billion
• the funds of legal entities deposited on thrift and current accounts make UAH 7.178 billion.
• the funds of individuals reached UAH 7.967 billion.
• the Bank capital amounted to UAH 3.324 billion.
• net profit -UAH 130 million

On 23rd of January 2008, UniCredit Group finalized the acquisition of 94,2% total shareholders capital of Ukrsotsbank from the group of investors that were represented by international consulting company EastOne (shareholders’ saler) through Bank Austria Creditanstalt AG (BA-CA), which is responsible for commercial banking activity in CEE.