Shareholders of Ukrsotsbank to Increase Authorised Capital
OREANDA-NEWS. May 15, 2008. As was informed by the Bank’s press service.
Ukrsotsbank shareholders decided to increase the authorized capital of JSCB Ukrsotsbank totalling UAH 50 million by increasing the number of shares of nominal value (0,1 hryvna.).
Open (public) placement of shares will take place July 3-25 2008 in two stages. According to the Chairman of the board of Ukrsotsbank, Borys Tymonkin, money attracted by the issue of the Bank shares will be aimed at sustaining high rates of the bank development and at increasing crediting of individuals` and corporate business, in particular.
By another decision of the shareholders meeting they have approved the report of JSCB Ukrsotsbank on the activity results of the Bank in 2007 and prospects for its development in 2008. The main achievements of Ukrsotsbank during last year were called:
more dynamic, as compared with major competitors on the TOP-5 Ukrainian banks,
growth of net assets, dynamic growth of capital and profits,
keeping and strengthening of positions in corporate clients crediting market,
accelerated development of retail business (growth in the loan portfolio of individuals amounted to 90% as of 2007),
priority of mortgage loans (the share of loans to individuals - 78%),
payment of UAH 308 million to the budgets of different levels and others.
"In 2007 we developed dynamically as a universal system bank - said Borys Tymonkin - In coming years we plan to strengthen our positions in the group of financial market leaders of Ukraine, increase our market share in the market of individuals crediting, by becoming one of the TOP-3 domestic banks on net assets ".
Shareholders have approved Ukrsotsbank net profit for 2007 amounting to UAH 362.265 million and decided to send UAH 25.1 thousand to repay dividends on preferred shares the rest of the profit to be sent to the reserve and other funds of the Bank.
Ukrsotsbank Shareholders decided to transform JSCB Ukrsotsbank into the bank with the foreign capital, due to the financial institution joining the international UniCredit Group. They made appropriate changes to the Bank’s Charter, which was approved by the Meeting in the new edition.
Shareholders have decided to change the Chairman of JSCB Ukrsotsbank Supervisory Board and members of the Supervisory Board. The Meeting appointed Jan Krzysztof Bielecki as the Chairman of the Supervisory Board of the Bank. Federico Ghizzoni, Robert Zadrazil, Thomas Gross, Luigi Lovaglio were appointed as the members of the Supervisory Board.