Ukrgasbank Annual General Shareholders Meeting
- corporate loan portfolio almost doubled comparing to a year before totaling UAH 11,150.9 m. The loan portfolio growth was among the fastest in the banking system of Ukraine;
- bank’s impairment provisions were formed in full in line with the requirements of the National Bank of Ukraine and recommendations of the auditors’ under IFRS;
- For the first time since recapitalization, the bank achieved a positive operating cash flow in the reporting period and satisfactory results by all business lines.
The bank also announced its strategic goals for the year 2012, in particular:
- to reduce a share of impaired assets;
- to expand and diversify the customer base;
- to increase a share of non-interest income in the total income of the bank;
- to increase share of the bank in the card issuance business;
- to increase retail loan portfolio;
- to become more active in SME and micro lending.
For reference: A share of the Government of Ukraine in the bank’s share capital increased to 93% in the reporting period. Share capital of Ukrgasbank grew to UAH 10 bn.
Income of the bank before impairment provisions for 2011 made UAH 378.9 million.
12.04.2012