OREANDA-NEWS. May 07, 2013. During 2012 Pravex prioritized the strengthening of its balance sheet whilst continuing to invest in the development of the bank.

Pravex is a universal bank providing a comprehensive range of banking services to individuals, businesses and government organisations.

2012 Highlights:
During 2012 significant funds were invested in the development of the bank's customer-focused business model aimed at sustainable growth, in line with European best practice.

We have refreshed our IT architecture by investing in new cutting edge IT solutions and infrastructure, enabling improved quality of our customer services and more efficient integration of our products with other banking systems.

Investment in our systems and people supported our focus on attracting funds to build the bank's deposit base.

We enhanced the bank's risk management by reshaping the processes of credit monitoring and provisioning, which is important for transparency, forecasting and preparedness for different scenarios. Careful management of risks and adequate provisioning is costly, but it is a pillar of stability for the bank and the wider industry. By taking this action, Pravex has not only proven reliability for its customers, but has also contributed to the efficiency of Ukraine's banking sector.

Last year Pravex increased the bank's capital by UAH 496880000, confirming its stability and reliability and demonstrating its commitment to an effective business strategy aimed at further development in Ukraine.

Separately, attention should be drawn to the consolidated results of Intesa Sanpaolo Group for 2012, the 100% owner of Pravex. In 2012, Intesa Sanpaolo delivered robust results: capital is solid and well above requirements, liquidity is very strong, and the Group confirmed a healthy dividend for shareholders. Intesa Sanpaolo is one of the few banks in the world already Basel 3 compliant in terms of liquidity and capital ratios.

The stability and reliability of Intesa Sanpaolo Group is highlighted by the award "Best Bank in Italy" at the "Global Finance World's Best Developed Markets Banks Awards".

Silvio Pedrazzi, Chairman of the Supervisory Board of Pravex said:

"The banking market is becoming more and more competitive, and requirements for market players are growing. In this situation those who are unwilling to spend money on development now, may become non-competitive in the future. Of course, all the investments made by Pravex, are long-term and we understand perfectly well that, in order to strengthen our Bank's position, we need to invest. Expenses for development today are our income tomorrow. Therefore, Pravex has adopted the highest requirements in terms of governance to pave the way for growth".