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Ukrsotsbank doubled its auto lending results of 2010 just in the Q1 of 2011

29.04.2011

In the first quarter of 2011 Ukrsotsbank, member of UniCredit Group, has doubled the number of auto credits in comparison with the 2010 year results.

Auto lending market actively gathers pace in 2011. In the terms of liquidity crisis, this type of lending has all chances to become a favorite of retail banking. This positive dynamics of the market growth is not just because of recent stability of the financial, economic and political situation in the country, but the new phase of the update cycle, which is happening now in the auto lending market.

"Before the 2008 crisis, period of updating was in averaged from 1.5 to 2.5 years. Financial instability has forced potential borrowers to hesitate before obtaining something new. It has provoked an increase in the cycle to 3 - 5 years "- says Lubov Syrovatskaya, Head of Mass Market Division of Ukrsotsbank. - It has just been three years since the beginning of the crisis. And the development of the auto lending market at the moment is getting a new impulse and naturally increasing due to the start of the update cycle. Thus, we can state that the positive trend of the auto lending market growth in 2011 is only a start for further increase and development."

There is also a possibility for Ukrsotsbank customers to take advantage of filing on-line application for a getting auto loan at the renewed website of the bank www.usb.com.ua. It's enough to fill out a simple electronic questionnaire about themselves (the borrower), and attach scanned copies of required documents, send the application via the Internet from home or the workplace.

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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