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Ukrsotsbank summarized its activities of 2009 and unveiled the main priorities for 2010

07.04.2010

Ukrsotsbank summarized its activities of 2009 and unveiled the main priorities for 2010.

As of January 1, 2010 the main indicators of Ukrsotsbank are as follows (figures are presented in accordance with national accounting standards):

  • total credit portfolio of the bank reached UAH 40.545 billion. The volume of loans to individuals exceeds the amount of loans to enterprises (UAH 21.884 bln. against UAH 18.661 bln.).
  • Net assets amounted to UAH 43.410 billion.
  • funds of legal entities deposited on thrift and current accounts amount to UAH 4.671 bln.
  • funds of individuals reached UAH 7,669 billion.
  • the Bank capital amounted to UAH 6,028 billion, having risen from the beginning of the year by 16,5%.
  • the Bank net profit – UAH 127 million.

«Our main shareholder — UniCredit Group — played a serious role in the development, stability and reliability of our bank in a difficult crisis year, — commented Ukrsotsbank Chairman of the Board, Borys Tymonkin. — Our bank, despite the decrease of assets, entered the top-6 of Ukrainian banks on this indicator, in many ways due to support of the Group, its development strategy. We also took fifth place in operating income and third place – in net profit. In 2009 Ukrsotsbank increased the authorized capital by UAH 500 million. We were and remain a liquid and a reliable bank that fully, and if it’s necessary ahead of time, fulfils its obligations.Thus, Ukrsotsbank returned ahead of schedule refinancing funds to National Bank of Ukraine, timely and fully paid for Eurobonds.

Improving asset quality and deepening partnerships with clients, attracting long-term deposits, developing of retail and corporate cross sales, increasing customer loyalty and driving conservative credit policy – are among of the Ukrsotsbank priorities in 2010.

In 2010, the Bank will continue working with further centralization of activities. After centralizing business support functions at seven macro regions centres, USB plans to unite all branches of the bank on the same balance at the end of 2010.

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.


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