OREANDA-NEWS. UkrGasBank <  UGZB UZ USD1.396 Hold  > and Bank Forum <  FORM UZ USD8.782 N/R  > announced plans to increase the number of outlets in Ukraine to 300 of each in 2008. Specifically, UGZB intends to establish 30 new outlets, with 20 by the end of 2007, while FORM plans to open 23 outlets. FORM and UGZB are currently the 4th and 5th largest PFTS-traded banks by number of outlets. Additional positive news for FORM is its joining the National System of Mass Electronic Payments.

According to experts of Millennium Capital, a financial services provider, the banks will likely manage to achieve these goals. Banks with larger networks are more attractive for foreign buyers of banks and this drives many banks to expand their networks even if they are not very profitable in the short run.