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Chairman of Ukrsotsbank Borys Tymonkin comments on the factors that prevent stabilization of financial sector


9 February, 2011 Forum of Leading International Financial Organizations took place in press-center of “InterFax” news agency. Easing of interest rates and access renovation to world loan capital markets are the main trends of the year for Ukrainian banking system that have been determined by Forum representatives. They were introducing their research called “Ukrainian Banking Market Review” during the press-conference. Chairman of Ukrsotsbank Borys Tymonkin considers that at the same time high level of troubled loan portfolio has got in a way of quicker bank activity recovery.

“Another one factor that prevents stabilization of Ukrainian financial sector is credit vulnerability as a result of unfavorable regulatory and legal framework and unforeseeable practice in its application”, - thinks Member of the Forum Board, Chairman of Ukrsotsbank Borys Tymonkin. “Dummy procedure of bankruptcy is a way too widespread in Ukraine. And national courts connive at the fact; many complications appear during pledges enforcement”, - banker added.

About Forum:

Forum of Leading International Financial Organizations is a new discussion platform aimed at initiation dialog on high level with Ukrainian governmental structures to provide Ukrainian financial sector with further development.

About Global Finance magazine:

Global Finance magazine was founded in 1987. It appears in circulation of 50 050 copies in 163 countries of the world. Global Finance audience is represented with companies’ executives, general and financial managers, treasury directors and with other finance specialists that are responsible for investment and taking strategic decisions in international companies and financial institutions.


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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