OREANDA-NEWS. February 9, 2009. In 2008, 36 BM Bank branches were opened all over Ukraine, bringing the total number of the Bank’s branches in Ukraine up to 45. By opening 2 more branches (in Simferopol and Krivoy Rog) in February 2009, BM Bank will complete the development of its regional network. Greater operating efficiency of the network is going to be BM Bank’s paramount task in 2009.

As of 1 January, 2009, BM Bank’s assets amounted to 3.12 billion UAH (equiv. 405.7 million US dollars), its credit portfolio to 2.37 billion UAH (equiv. 307.1 million US dollars), liabilities to 2.77 billion UAH (equiv. 359.3 million US dollars), including funds of corporate clients — 1.05 billion UAH (equiv. 136.6 million US dollars) and individuals’ deposits — 296.2 million UAH (equiv. 38.5 million US dollars). According to the results of its activities in 2008, BM Bank received profit in the amount of 10.1 million UAH (equiv. 1.31 million US dollars).

Over the 12 months of 2008, BM Bank’s assets grew by 150% (by 1 873 million UAH), its credit portfolio by 167% (by 1 479 million UAH) and client funds by 126% (by 752.4 million UAH).

In the rating of the Association of Ukrainian Banks, in terms of net assets BM Bank rose by 12 points, from 58th to 46th place.

"The events of the last months of 2008 prevented us from realizing our plans fully, yet I assess last year as a successful one. We virtually completed creation of the regional network and demonstrated a substantial growth of all financial indicators", notes Vitaliy Lomakovich, Chairman of the Management Board of BM Bank. "In 2009, we intend to concentrate on consolidating our positions on the market by improving service quality and expanding the range of services offered. For the purpose of maintaining due quality of the Bank’s assets, priority significance will be attached to risk management systems and methods".