OREANDA-NEWS. Borys Tymonkin, the Chairman of Ukrsotsbank’s Board, considers the national mortgage crediting market to have good perspectives for dynamic growth, reported the press-centre of Ukrsotsbank.

Borys Tymonkin: “According to the mortgage association, there are USD 60 of mortgage loans per capita in Ukraine. At that, the share of the grey GDP in our country is much higher than that in Europe. This statement demands no specific proof. Have a glance at Romania whose GDP is higher than that of Ukraine’s. Ukraine looks much wealthier than Romania, proving that our real GDP exceeds the existing numbers. These facts prove that mortgage market has a very good potential”.

The share of mortgage loans in Ukrsotsbank’s loan portfolio for individuals makes 70%. According to Borys Tymonkin, the structure of Ukrsotsbank’s loan portfolio for individuals is close to the European model - mortgage comprises the biggest share of it, some 70%.

Note. JSCB “ Ukrsotsbank” was established in September 1990. At present, it is among the largest banks in Ukraine. The branch network of the Bank comprises 483 offices - 452 off-balance offices, 4 balance offices and 27 regional branches. The number of employees exceeds 10 000.

Financial summary, as of July 1, 2007:

Net assets - UAH 24,301 billion

Loan portfolio - UAH 18,149 billion

Funds of legal entities deposited in the Bank’s thrift and current accounts - UAH 5,659 billion
Funds of individuals deposited in the Bank’s thrift and current accounts - UAH 5,997 billion

The Bank’s capital - UAH 2,087 billion

The Bank’s current financial result - UAH 160 million

In January-June of  2007 Ukrsotsbank’s share on the net assets market  was increased by 0,3% up to 5,5% that corresponds to the fourth position in the TOP-10 of Ukrainian banks (the sixth position as of January 1, 2007). 

The Bank’s presence on the individual crediting market increased up to 9,6% which corresponds to the fourth position in the rating (8,9% as of January 1, 2007). The Bank’s share on the corporate crediting market increased from 3,4% (as of January 1, 2007) to 3,8% (as of July 1, 2007).

The Bank preserved its positions on the market of individuals’ funds - Ukrsotsbank’s share made 4,8% that corresponds to the fifth position in the rating of Ukrainian banks.

In H1 2007 the Bank’s net profit made up to UAH 160 million, by the end of 2007 the Bank expects to earn UAH 350-400 million of net profit. Ukrsotsbank finished the year of 2006 with UAH 287 million of net profit, having increased this parameter 2,45 times more if compared to 2005.

As was announced with reference to UniCredit Group (Italy), Bank Austria Creditanstalt AG (BA-CA) that inside UniCredit Group is responsible for the commercial bank activity in the Central and Eastern Europe inked the agreement on acquisition of some 95% of Ukrsotsbank’s stock. The deal will have been expectedly finalized in Q4 2007 after receiving permissions from the corresponding regulatory bodies of Italy, Austria and Ukraine (Bank of Italy, Austrian Markets Authority, the National Bank of Ukraine and the Anti—monopoly Committee of Ukraine).