Ukrgasbank is in top 10 Ukrainian banking rating of “Kommersant-Ukraina”

JSB Ukrgasbank occupied the leading positions in nominations of “Top 50 banks in Ukraine” in the rating of business publication “Kommersant-Ukraina”: 3d place by SMEs and entrepreneurs financing, 5th place by auto lending, 8th place by large business lending, 9th place by bank’s geographical footprint and 10th place by number of banking outlets. In overall ranking Ukrgasbank occupied the 14th position among top 50 financial institutions of Ukraine.

Mr.Stanislav Shlapak, First Deputy Chauirman of the Board commented: «Our integrated ranking shift resulted by the formal loss reported by the bank due to the provisions formed in the amount of UAH 3 993 million. This step was agreed with National Bank of Ukraine, Cabinet of Ministers, IMF and World Bank and was made aiming to meet IFRS compliance requirements, as a result financial loss was actually reported. Taking into account that profit before provisions amounted to UAH 380 million, our ranking in the complex rating should have been significantly higher in fact. Once provisions are formed any bank turns over a new leaf. Thus, first 2 months results have proved the positive dynamics of major financial indexes of the bank’s performance».

An encouraging opinion was given by the Chairman of the Board Sergiy Mamedov: «We are quite satisfied by the fact that Ukrgasbank is in top rating by the number of indexes, testifying that the approved strategy of the bank is relevant. This is a statement of the market share of the bank and capitalization of our assets accordingly. The growth of the loan book by 63% in the previous year is evidencing this fact» - commented Mr.Mamedov.

16.03.2012