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Borys Tymonkin, CEO of PJSC “Ukrsotsbank”, UniCredit Bank™, gave the realistic estimation of the current situation during his on-line interview to “RBK –Ukraine”


On August, 13th, 2012 the on-line press-conference of Borys Tymonkin, CEO of PJSC “Ukrsotsbank”, UniCredit Bank™ took place in the press-office of the ”RBK-Ukraine” news-agency.

During his interview Borys Tymonkin gave his estimation of the current situation on political and economic spheres, defined the key problems of the domestic banks, confirmed a course for stability of the parental company UniCredit and worked out in details the main planned activities of NABU – association charged by him.

CEO of the Bank believes that the years of change regime and instability in the country are already over and now it’s time for the new round of work: "What happened in 2010? The government change at all levels and some “mopping up”. Stripping other businesses, not owned by necessary ones. It was a period of re-division: 2012, 2011 ... It is more or less finished for today. You either strayed or lost, or developed. Today there is a new reality, new power vertical. A new round of work begins. When a person is not afraid and starts to think about how to do something. Because before it was according to the scheme – everything should be seized and hidden -so, we are now in positive, stability, which provides visibility and predictability.”

Banker highlighted the quality of the loan portfolio as the basic problem of the domestic banks and proposed the solutions: "The problem number one is the quality of the loan portfolio. The way to solve is to work with it by means of forming reserves and closing them, by working with the borrowers aimed to find the compromises, the regular restructuring, finding the mutual ways, sale of some certain assets. The banking system will have to digest all this fore 3-5 years."

Mr. Tymonkin expressed his full confidence in the stability of the parent company of PJSC "Ukrsotsbank» - UniCredit and came up with the weighty arguments: "The situation in Italy is not easy, of course, but actually there is nothing dramatic. At the beginning of the year the group raised its capital almost by 7.5 bln euro. It has a serious supply of liquidity and capital as well. The radical transformation has been taking place in Italy for the third year already, because before that the local banks had been working under the name of UniCredit, each of them had the Board, the Supervisory Board, the Audit Commission, etc. As for today all this has been toughly cleared. Today there is only one bank in Italy. Thousands of people got under reduction. Today, Federico Ghizzoni, CEO of UniCredit, after the recent decision of the Board took his personal responsibility for the UniCredit business development in Italy. And this is very good. Because in such moments it is necessary to move away from the collective leadership and come to the role of one person - quick decisions, full responsibility. In Italy only third part of the group's business is concentrated. Very strong business is in Germany - HVB UniCredit. Very strong business is in Austria - Bank Austria - this is the first bank of the country. Also in Poland and in other European countries. This is a serious ground for the good stability."

Also Head of the Independent Bank Association of Ukraine reported on the activities of his organization: "We have 5 committees in IBAU. The largest number of finished results of the committee belong to Committee on Regulatory Policy headed by Arthur Zagorodnikov. This committee interacts with the National Bank. Their task is to organize the dialogue with the regulator about any innovations of the regulator or innovations offered by the bankers, to organize a fairly quick response. Its works is the best.

According to Mr. Tymonkin’s words there will be no global actions during the elections period: “In my opinion, what should be done is to return fixed-term deposits. We grant credit for some particular period - we can not take it earlier. Ability to take deposits in advance creates liquidity problems. The following feeling take place - if I do not run, he will run ahead. Even if a person is not a panic monger, if he see queue by the bank, he will go and stand in the tail of it. National Bank will have to refinance banks and again there will be lots of money, which will put pressure on exchange rate and we’ll have the same situation again. If you're ready to go through this situation every 5 years, through a situation of economic collapse, disruption and construction, that’s your choice. A certain restriction of freedom is always natural, if the risk is overall".

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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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