17.03.2008, 17:10
Priorbank Reports on Its New Record Result in 2007
OREANDA-NEWS. March 17, 2008. In 2007 Priorbank ensured the record 80% growth of its total assets during the past three years. Loan portfolio to customers increased by 50% up to BYR 2,734 bn. Deposits from customers grew up to BYR 1,693 bn. exceeding the level of 2006 by 29%. The equity made up BYR 422 bn. and increased by 13%. (All figures are based on local reporting standards).
Priorbank remains one of the most profitable financial institutions in the country. The amount of profit generated by the bank in 2007 exceeded the level of 2006 by 7,4% and made up BYR 73 bn. Return on equity equaled 23%. During the whole year the bank was in line with indicative parameters of development and prudential norms set by the National Bank of the Republic of Belarus, ensuring thereby the safe banking.
Credit support to Belarusian enterprises increased by 46%
Priorbank provided active credit support to Belarusian enterprises. As of 1 January 2008 loans to large corporate customers made up BYR 1,589 bn. and increased by 46% during the year. More than 40% of all loans were allocated by the bank to customers’ investment programs.
During a number of years Priorbank has actively participated in modernization of the brewing industry of the country. Today the bank finances and exercises trust management of shares of such major enterprises of this industry as OAO Krinitsa and OAO Brest beer.
Foreign trade financing to large customers significantly increased almost twofold
Apart from traditional lending the bank finances its customers through such instruments as pre-export and trade finance, issuing letters of credit and guarantees. In 2007 the amount of foreign trade finance provided to large customers amounted to BYR 642 bn. and increased by 80% as compared to the year 2006.
Priorbank is the first in the Republic of Belarus in terms of loans to individual entrepreneurs
The bank achieved considerable results in SME segment development in 2007. Thanks to the introduction of new service techniques, development of standard products, conducting advertising campaigns aimed at the acquisition of new customers, the amount of loans to SMEs increased by 72% up to BYR 442 bn. in 2007. The market share of the bank in terms of lending to individual entrepreneurs grew by 9% during the year to 32%. In 2007 the bank acquired more than 2,000 new customers, thus having moved from the position number two in 2006 to be the first in the Republic of Belarus in terms of loans to individual entrepreneurs.
The volume of most popular loans through cards increased by 77%
Retail banking is an important line of Priorbank business. Application of state-of-the-art banking technologies, expanding the range of products and services provided to population enabled the bank to not only considerably increase the volume of operations with private individuals, but to strengthen its position in this market segment.
Thus, in the year under report the loans to private individuals grew by 58% up to BYR 690 mln. The bank has actively provided loans to population for housing construction and purchase, has developed credit cards programs, has provided auto and consumer loans.
Credit cards became the most popular credit product with individuals in 2007. Total loans extended to private individuals through plastic cards amounted to BYR 392 bn. as of 1 January 2008, increasing by 77% during the year.
Loans for housing construction and purchase ran up to BYR 220 bn. More than a thousand of new real estate loans were extended by the bank out of the funds of the International Finance Corporation and the European Bank for Reconstruction and Development.
In 2007 deposits from individuals went up by 48% and totaled BYR 549 bn.
Foreign funds to the amount of USD 1 437 mln. were attracted to the country’s economy from various sources
Priorbank is certainly the leader among other Belarusian banks in terms of attracting foreign loan facilities. For purposes of Belarusian economy Priorbank actively attracts funds of international financial institutions, Raiffeisenbank, export insurance agencies, foreign commercial banks. In 2007 foreign funds to the amount of USD 1,437 mln. were attracted to the country’s economy from various sources. All obtained funds were allocated by the bank to financing large public enterprises, small and medium enterprises, mortgage lending.
Signing of a 2-year USD 100 mln. loan agreement with VTB Bank Europe plc, Great Britain became the most important project of the year. Under a number of programs the bank’s major shareholder Raiffeisen International Bank-Holding AG extended loan facilities to the amount of more than USD 760 mln. Amount of financing provided by the European Bank for Reconstruction and Development made up USD 82 mln.
Priorbank remains one of the most profitable financial institutions in the country. The amount of profit generated by the bank in 2007 exceeded the level of 2006 by 7,4% and made up BYR 73 bn. Return on equity equaled 23%. During the whole year the bank was in line with indicative parameters of development and prudential norms set by the National Bank of the Republic of Belarus, ensuring thereby the safe banking.
Credit support to Belarusian enterprises increased by 46%
Priorbank provided active credit support to Belarusian enterprises. As of 1 January 2008 loans to large corporate customers made up BYR 1,589 bn. and increased by 46% during the year. More than 40% of all loans were allocated by the bank to customers’ investment programs.
During a number of years Priorbank has actively participated in modernization of the brewing industry of the country. Today the bank finances and exercises trust management of shares of such major enterprises of this industry as OAO Krinitsa and OAO Brest beer.
Foreign trade financing to large customers significantly increased almost twofold
Apart from traditional lending the bank finances its customers through such instruments as pre-export and trade finance, issuing letters of credit and guarantees. In 2007 the amount of foreign trade finance provided to large customers amounted to BYR 642 bn. and increased by 80% as compared to the year 2006.
Priorbank is the first in the Republic of Belarus in terms of loans to individual entrepreneurs
The bank achieved considerable results in SME segment development in 2007. Thanks to the introduction of new service techniques, development of standard products, conducting advertising campaigns aimed at the acquisition of new customers, the amount of loans to SMEs increased by 72% up to BYR 442 bn. in 2007. The market share of the bank in terms of lending to individual entrepreneurs grew by 9% during the year to 32%. In 2007 the bank acquired more than 2,000 new customers, thus having moved from the position number two in 2006 to be the first in the Republic of Belarus in terms of loans to individual entrepreneurs.
The volume of most popular loans through cards increased by 77%
Retail banking is an important line of Priorbank business. Application of state-of-the-art banking technologies, expanding the range of products and services provided to population enabled the bank to not only considerably increase the volume of operations with private individuals, but to strengthen its position in this market segment.
Thus, in the year under report the loans to private individuals grew by 58% up to BYR 690 mln. The bank has actively provided loans to population for housing construction and purchase, has developed credit cards programs, has provided auto and consumer loans.
Credit cards became the most popular credit product with individuals in 2007. Total loans extended to private individuals through plastic cards amounted to BYR 392 bn. as of 1 January 2008, increasing by 77% during the year.
Loans for housing construction and purchase ran up to BYR 220 bn. More than a thousand of new real estate loans were extended by the bank out of the funds of the International Finance Corporation and the European Bank for Reconstruction and Development.
In 2007 deposits from individuals went up by 48% and totaled BYR 549 bn.
Foreign funds to the amount of USD 1 437 mln. were attracted to the country’s economy from various sources
Priorbank is certainly the leader among other Belarusian banks in terms of attracting foreign loan facilities. For purposes of Belarusian economy Priorbank actively attracts funds of international financial institutions, Raiffeisenbank, export insurance agencies, foreign commercial banks. In 2007 foreign funds to the amount of USD 1,437 mln. were attracted to the country’s economy from various sources. All obtained funds were allocated by the bank to financing large public enterprises, small and medium enterprises, mortgage lending.
Signing of a 2-year USD 100 mln. loan agreement with VTB Bank Europe plc, Great Britain became the most important project of the year. Under a number of programs the bank’s major shareholder Raiffeisen International Bank-Holding AG extended loan facilities to the amount of more than USD 760 mln. Amount of financing provided by the European Bank for Reconstruction and Development made up USD 82 mln.
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