Ukrsotsbank Wants to Attract USD150 bln from Bank Austria Creditanstal
OREANDA-NEWS. On February 08, 2007 as was mentioned at the press briefing, organized by the Ukrsotsbank press service, which took place in Kyiv and which became much publicized event among the Ukrainian mass media.
Press briefing of Ukrsotsbank, where UniCredit Group leadership announced Ukrsotsbank development plans took place 8 February 2008. About 45 representatives of leading business and socio-political newspapers and magazines, information agencies, web sites and 7 TV channels participated in the event and it became much publicized among the Ukrainian mass media.
The following persons participated in the press briefing:
Borys Tymonkin, Chairman of the Board, Ukrsotsbank
Alessandro Profumo, CEO of UniCredit Group
Federico Ghizzoni Head of Poland's Markets Division, UniCredit Group Head of CEE Banking Division, BA-CA
Gianni F. Papa, Head of Ukrsotsbank integration into UniCredit Group, General Manager of UniCredit Bank (Slovakia).
"After joining UniCredit Group that is number one in CEE Ukrsotsbank will increase its positions on Ukrainian market, — said Head of Management Board of Ukrsotsbank Borys Tymonkin, -our strategic target is to expand retail services and actively promote the corporate sector".
"Ukraine is a very important market for UniCredit that is why we decided to expand our presence here. We see good perspectives of economic growth of your country, which has high GDP growth, joins the WTO and is going to create single trade zone with the UN, - said Alessandro Profumo, CEO of UniCredit. UniCredit is going to be a long term investor since Ukraine is a key country representing one of our most promising markets in terms of potential growth".
"UniCredit aims to be among the top three universal banks in the country for total assets, leveraging on the Group know-how and experience as the market leader in the CEE region combined with local managerial competences and strengths, — said Federico Ghizzoni, Head of CEE banking Division at BA-CA and Head of Poland Markets Division at UniCredit Group".
According to Alessandro Profumo, Borys Tymonkin, will stay the Chairman of Ukrsotsbank.
The acquisition of USB reinforces UniCredit's Group’s operations in Ukraine, one of the fastest growing economies in the region, where the Group already operates through UniCredit Bank Ltd. The Group is planning to join two its banks operating in Ukraine.
With the population of around 50 mln people and quite low (as per European standards) indicator of the use of banking services, Ukraine has good prospectives if increasing banking assets in middle-term perspective, in particular in the segment of consumer service. Joining UniCredit Group gives to Ukrsotsbank high prospects for further development, as was mentioned during the press briefing.
UniCredit Group plans dynamic development of Ukrsotsbank. They have announced plans of the Bank market share increase to 8%, entering the TOP3 biggest banks, considerable expanding of work in the retail market.
The planned amount of foreign borrowings for 2008 makes EUR 2,5billion.
According to Borys Tymonkin, Ukrsotsbank is going to attract USD150billion from Bank Austria Creditanstalt in terms of subordinated debt. The corresponding agreement had been concluded by the parties 7 February 2008.
As it was informed by the Chairman of USB, the Bank shareholders will decide upon USD 150 million increase of the authorized capital during the nearest meeting.
The Bank is going to increase its network to 550 POS by the end of the year. During three years – to 700 POS.
Ukrsotsbank activates mortgage and card crediting, long-term financing of enterprises, blue chips and multinational corporations, in particular.
In the CEE region, the UniCredit Group operates through its international network in more than 3700 branches and branches serving around 27 million clients by 79 000 employees.
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