OREANDA-NEWS. JSCB "Ukrsotsbank" celebrates its 17th anniversary, being at present positioned among the largest  Ukrainian banks.

According to the Bank Chairman Borys Tymonkin, for this gone-by period Ukrsotsbank has come a way from servicing corporate clients and budgetary enterprises to a leading universal bank with up-to-date technologies of population servicing. "Today, our share on individuals crediting market is about 10%, on mortgage market -14%," Borys Tymonkin points outs.-"It is worth noting that many qualitative changes have taken place in recent years, which is quite a short period of time.

"When our team came to the bank, for instance (Borys Tymonkin became Ukrsotsbank Chairman in 2001), the net assets made up UAH 1.7 billion, now they come to UAH 26.5 billion. On that time the Bank didn't work with a population, the loan portfolio was about UAH 20 million and it was ensured by the Bank staff and managers of enterprises/corporate clients. Until 2001, the Bank has been holding the budget money, which they have subsequently taken away from us. At that time we started working with the population. Overcoming the crisis which began in 2000, the Supervisory Board Chairman was Valery Horoshkovsky led to the bank a Moscow managers team. The Moscow team brought the bank to unitary state by pitching it strong and using severe measures sometimes. We have established a processing center and reduced the number of balance branches, transforming them in full-fledged offices.The branch network of the Bank comprises 490 offices, 463 off-balance offices and 27 regional branches. The number of employees exceeds 10 000. The Bank grew without shareholders` gifts. Profit was reinvested, shareholders didn't ask dividends and the bank has been developing. First money we got after Viktor Pinchuk had bought the Bank."

According to the bank's press-release, Ukrsotsbank's loan portfolio amounts to UAH 20.260 billion. The Bank's presence on the individual crediting market increased up to 9.6%, which corresponds to the fourth position in the rating. 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). 

In H1 2007, the Bank's net profit made up UAH 160 million, by the end of 2007 the Bank expects to earn UAH 350.4 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 as compared to 2005. As was announced with reference to UniCredit Group (Italy), Bank Austria Creditanstalt AG (BA-CA), an insider in the UniCredit Group 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).