By the end of 2009, Ukrgasbank intends to increase its market share up to 2.3%

By the end of 2009, Ukrgasbank JSB, OJSC, intends to increase its market share in aggregate banking assets from 1.2% to 2.3%, as reported by Anna Tychino, Director of Finance and Budgeting Department. ‘The Bank’s development strategy for 2007-2009 provides for increasing, by the end of 2009, the Bank’s market share in aggregate banking assets up to the level of 2.3%’, she said.

As A. Tychino said, the Bank intends to increase its total assets, first of all by enhancing income-bearing assets. It is expected that by the end of 2007 the loan portfolio of the Bank’s customers will grow up to UAH 3.3 billion, including due to its diversification related in particular to retail business development. By the end of 2007, specific share of individual loans in the Bank’s loan portfolio will reach 35%, and their volume will double.

‘It is expected that the Bank’s securities portfolio for 2007 will grow up to UAH 600 thousand’, she said.

‘The Bank will extend its customer base with the focus of its efforts on strengthening of its positions in the segment of small and medium businesses keeping up with its market share in the work with retail customers and proactive cooperation with its existing customers that will allow it to increase the Bank’s customer resource base by one third by the end of 2007’, А. Tychino said.

Based on the estimates of the National Bank of Ukraine, by October 1, 2006, the Bank was the 17th largest bank in terms of its total assets out of 166 Ukrainian banks.

10.01.2007