Latest News - Banking - Ukraine

IntellectTechnologies LLC, Belgian-Ukrainian IT enterprise based in Kiev and Brussels, became the first company worldwide to receive an official certification status for SWIFT Alliance Integrator.

On December 15th UkrGasBank repaid in full and in a timely fashion its $20 mn club loan, attracted in December 2007.

Financial Initiatives Agency and Standard & Poor's Governance Services announced the results of its transparency and disclosure survey of the 30 largest Ukrainian banks in 2008. UkrGasBank is ranked first with a score of 71.2%.

UkrGasBank recognized early on that corporate governance was a key to improving its performance. When it acted upon this understanding , not only did the bank’s officials take courses on the topic, they hired the expert.

Low credit rates started the «real estate» boom, which led to the significant growth in profits of financial institutions, especially banks, involved in mortgage lending.

During 2007 the Bank assets increased by 131,2%, which shows a more rapid development of the financial institution comparing to other banks of Ukraine

Since the time eliminating most customs barriers and decrease of fees in 2005 we have actually been working under WTO terms and conditions in terms of the market openness.

As of 2007 the Bank’s volume of transactions in securities sale and purchase (commercial activities) totaled over UAH 5,590 million (over 600 performed agreements).

Analysts of investment company Millenium Capital changed the recommendation regarding Ukrgasbank shares (ticker UGZB) from “Accumulate” to “Hold”.

UkrGasBank has successfully closed its second syndicated facility totaling $46m. A total of 14 financial institutions from 9 countries joined the transaction.

The dramatic changes in contemporary business and IT landscape have been often associated with increased volume of information, diversity of data sources and consequent complexity of knowledge-based decision making.