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Ukrgasbank Made the Highest Ever Annual Profit for its Entire History

Ukrgasbank made UAH 1.1 billion profit by the results of 2012. It is a record level for the entire 20-year history of the bank and one of the best results among local banks last year. Ukrgasbank also posted one of the highest ROE ratios among Ukrainian banks, almost 36%. Income of the bank reached UAH 2.5 billion for 2012.

"Ukrgasbank becomes one of the leaders of the Ukrainian banking sector. We have been growing and moving ahead while the majority of the financial institutions have been cutting down their business plans or leaving the market at all. This proves our business strategies, our innovative products and our team to be efficient" — said Sergii Mamedov, Chairman of the Board of Ukrgasbank.

The Bank has been actively lending to the key industries of the Ukrainian economy. Loan portfolio totaled almost UAH 12.4 billion, of which UAH 9.5 billion are corporate loans. UAH 2.9 billion are attributable to retail loans that have grown by UAH 417 million (17%) over 2012.

Ukrgasbank enjoys vast confidence among its customers. Amounts due to customers grew by UAH 1.4 billion (25%) last year and totaled almost UAH 7 billion. Assets of Ukrgasbank increased by UAH 2.84 billion (16%) and totaled UAH 21 billion. Shareholders' equity reached UAH 3.82 billion as of 01.01.2013, posting an increase of UAH 1 billion (36%) during the year.

Achievements of Ukrgasbank have been recognized by authoritative international financial institutions. In December 2012, the Bank received the "Product. Innovation. Partnership" award from one of the largest world banks, JP Morgan Bank.

"Automated systems of JP Morgan Bank have highly estimated Ukrgasbank, as it has been developing most dynamically among all CIS banks. We are preparing a series of new electronic payment services for 2013. We will also increase volumes of lending to export orientated industries, power efficient technologies, agriculture, SMEs" — noted Stanislav Shlapak, First Deputy Chairman of Ukrgasbank.

Ukrgasbank is in the group of the largest banks of Ukraine as to assets. Its nationwide network consists of 233 points of sales, 573 own ATMs, 1,113 POS terminals and 14 self-service kiosks.

24.01.2013