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PJSC "Ukrsotsbank", UniCredit Bank™: Advantages of cooperation with an international group

16.09.2013

Tikhonov Mikhail, Head of Corporate Business Department in Dnepropetrovsk Region, PJSC "Ukrsotsbank", UniCredit Bank, told about the advantages of cooperation with an international group.

Mikhail, could you please describe the strategy of PJSC "Ukrsotsbank", UniCredit Bank™, development in Ukraine.

Our bank is a part of large banking group in CEE, which consists of around 10000 branches and 165 thousand employees. Talking about UniCredit development, we should note that the main credo of our banking group is "Rock-solid European Commercial Bank". In the frames of this strategy the capital of UniCredit was increased for EUR 7.5 bn in 2012 and the efforts were directed to business financing and complex worldwide service, including cash-management, FOREX and trade financing. Another important aspect is simplification of servicing processes – the bank should be easy to deal with.

Currently the strategy of the group in Ukraine is not only increase of market share but also the boost of its efficiency, which is proved by the planned merger of PJSC “Ukrsotsbank” and PJSC “UniCredit Bank” in 2013. Talking about the growth of corporate portfolio, we are optimistic in the possibility of fulfilling the tasks, as starting from 2008 crisis there was marked a tendency of strong European players leaving Ukrainian market, together with that the quantity of Ukrainian companies, willing to work with European bank, is increasing. In this segment of clients we see good growth opportunities.

How can foreign banks compete with local Ukrainian players when servicing corporate clients?

Local banks are often more operative in decision making in corporate lending. We understand this and that is why our key tasks since PJSC "Ukrsotsbank" integration into UniCredit have been: shortening of «time to money» procedure, simplification of structures and extension of powers at the spots. Besides, the communications between corporate clients and region manager were simplified. And from the moment of Dnepropetrovsk Corporate Center establishing (at the beginning of 2012) we have approved the credit limits for 15 groups of borrowers, the average limit of the groups amounted to UAH 40-50 million. I’d like to note that 80% of these borrowers have never been previously serviced in PJSC "Ukrsotsbank", UniCredit Bank™.

What do foreign banks wait from Ukrainian client? What should it look like for successful cooperation?

For us, as for a bank with long-term development plan in Ukraine, it is very important that the client has a business vision for the next 3-5 years, as long-term partnership with a client is one of the main priorities for us. It could be noted that in Ukraine the corporate clients gradually understand the necessity to use the European business model and such instruments as audit, transparent corporate structure, etc. This all is a positive factor for the successful cooperation with European bank.

Can you make fresh examples of your successful deals?

When working with corporate clients we prefer to diversify our loan portfolio, which is why we finance not only popular directions as agriculture, but also production, mining, food industry. Recently we have closed a deal with a large Ukrainian industrial holding UMIN, which specializes in production of mineral resources, which is ranked among Top-15 world producers of kaolin (a raw material for production of ceramics, fiberglass, paper, etc). It should be noted that this group of companies, besides kaolin production, deals with production, sales and marketing of titanium materials (zircon, rutile, ilmenite), quartz sand, gravel, concrete, and consists of companies, dealing with machinery. In the current project the bank participates in financing of a large investment project, directed to renewal and increase of production capacities of kaolin production. The volume of PJSC "Ukrsotsbank" financing in this project amounts to USD 10 mn, the term of financing is 5 years.

The financial director of UMIN Holding, Aleksandr Goncharuk, commented the deal:

"For us, as for dynamically developing industrial holding with export proceeds share amounting to more than 50%, it is necessary to have financial partners, who have solid international experience and unblameable reputation, as the presence of such bank in our credit portfolio significantly simplifies the negotiations with foreign counterparts on the issues of new equipment purchase and when discussing contracts for realization of our products. PJSC "Ukrsotsbank", UniCredit Bank™, is our partner – currently we have a limit amounting to USD 10 million, with the help of which we confidently started the realization of our ambitious plans on increase of our enterprise and Ukraine share in general at the world market of kaolin production".

Which priorities does the client have when cooperating with your bank?

Being a solid corporate bank we are not the “boutique” financial establishment as we have one of the most diversified network of branches and ATMs in Ukraine, we also actively develop Private Banking.

We also fruitfully cooperate with international financial groups. The latest example – a signed deal with one of the largest financial institutions of EU – European investment bank. According to the agreement the EIB granted PJSC "Ukrsotsbank", UniCredit Bank™, a credit line in the amount of EUR 140 million in 2013 for financing of SME in Ukraine (the quantity of personnel is not more than 3 thousand employees). Having fulfilled EIB terms we will be able to render long-term financing to Ukrainian business for its support and development.

Source: Portal Finance.ua
Date: 16.09.2013

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