CLOSE
At a glance
Investors
Mission & values
Press & Media
Business model
Careers
Ukrsotsbank Worldwide
Ukrsotsbank Factsheet
Support Print Add to bookmarks

CEE in the autumn of 2015 is the new safe haven

30.09.2015

UniCredit’s CEE Quarterly 4Q 2015 found that market volatility spiked in 3Q15, with the uncertainty surrounding the anticipated Fed rate hike augmented by growing worries about a “hard landing” in China.  Against this backdrop, EM assets suffered with currencies depreciating, bond and equity prices soaring and growth prospects weakening. In CEE, the difficult external environment amplified the growing divergence within the region. While the region’s two largest economies – Russia and Turkey – suffered, the rest weathered the latest market disturbance largely unscathed.

Growth in the EU-CEE continued at a brisk pace in 2Q15 and short-term indicators suggest that the momentum will be sustained in 3Q15. We expect real GDP to rise 2-3.5% for the year as a whole, slightly above potential. If growth was initially led by exports spurred by the recovery in the EU, now it has shifted towards domestic demand.

In Ukraine, which has been hit by an unprecedented financial and geopolitical crisis, the economy at least seems to have bottomed out in 2Q15. Real GDP, industrial output and retail sales all stabilized during the summer or have shown tentative growth, albeit from a very low level.

Developments to date point to an increasingly divergent outlook for the CEE sub-regions. Our near-term projections are based on assumptions about a further slight acceleration in EA and U.S. growth, commodity prices stabilizing in 2016 with moderate upward potential, a “soft landing” in China and a gradual path of Fed rate hikes. The ECB is expected to continue with its QE program as initially planned.

Next year, growth in the EU-CEE should remain robust, again above potential. A slight slowdown can be expected in countries that have relied the most on EU funds for investment, with their absorption set to dip during the transition between the two EU budgets everywhere except for Poland. However, most of the slowdown in EU-funded investment should be offset by firming consumption, as tighter labour markets result in higher wage growth.

 

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


Social networks:

facebook.com

twitter.com

youtube.com


 

Press-service Ukrsotsbank

Phone: 0 800 3000 90
Back





Internet-banking
Branches & ATMs
Contacts
0 800 3000 90 0 800 3000 90
0 800 3000 90 0 800 3000 90
332 0 800 3000 90
Support

Calls from fixed and mobile networks in Ukraine are free of charge.

The callback service for mobile calls.

Number to be used for calls from mobile number within Ukraine for Vodafone, Kyivstar, lifecell subscribers.

Rates according to tariff plan used by user.

The callback service for mobile calls.

For international and domestic calls.

The callback service for mobile calls.

Rates apply to the actual date of writing-off from the account and are close to the bank’s exchange rate while blocking the necessary amount at the time of the transaction fulfilment.
At first card account currency is stated, hereafter the settlement currency with payment system is indicated.
Service quality appraisal

Feedback

Any questions, offers, comments?

We appreciate our cooperation with you. Please fill the feedback form bellow for sharing your suggestions , comments as well as ask us a question or call Contact-center of JSC "Ukrsotsbank" by number 0 800 5000 20 (landline calls within Ukraine are free).









I want to receive the information on new Bank’s services, promotion campaigns and prize drawings.

Required fields