26.08.2009, 08:36
Sokrat Recommended “to Hold" Shares of Megabank
OREANDA-NEWS. August 25, 2009. Invest company "Sokrat" has considered the shares of four liquid banks, traded publicly, announced in a analytical review of invest company. Proceeding from the results of shares value, "Sokrat" recommended "to buy" to shares of Ukrsotsbank and "Forum" and to hold" – shares of Raiffeisen bank Aval and Megabank, reported the press-centre of Megabank.
"In our report we consider four banks: Raifeisen Bank Aval, Ukrsotsbank, bank "Forum" and Megabank, since all these banks has received a considerable support from shareholders and international financial institutions, in connection with what insolvency problems are not likely in the future.", - is reported in the review. The experts underlined, that papers of other banks traded publicly, were not considered because of their insolvency and high uncertainty: some have received state support, and others are in the process of negotiations of debt restructuring and support from the state. While assessing the share value the analysts used the model of remaining profit, this model being most adequate in the current situation.
In accordance with calculations of invest company, Ukrsotsbank shares: current price 0,318 UAH, fair price - 0,58 UAH, growth potential - 83,94%, number of shares in free trade - 3,36%; for shares of the bank "Forum": current price - 6,7 UAH, fair price - 10,12 UAH, growth potential - 51,07%, number of shares in free trade - 3%; Raiffeisen Bank Aval: current price - 0,319 UAH, fair price - 0,35 UAH, growth potential - 8,39%, number of shares in free trade - 4%; Megabank’s shares: current price - 1,05 UAH, fair price - 1,09 UAH, growth potential - 3,5%, number of shares in free trade – less than 1%.
Ukrsotsbank founded in 1990. Prior to July 1, 2009 UniCredit Bank Austria AG owned 12,8346% shares of Ukrsotsbank, "Ferrotrade International" - 82,1245%.
According to the NBU data, as of July 1, 2009 by the size of total assets (44,976 billion UAH) Ukrsotsbank occupied 6th place among 184 banks, operating in the country.
Bank "Forum" was founded in 1994. The Major shareholder as of July 1, 2009 were Commerzbank Auslandsbanken Holding AG (63,0017%), Leonid Yurishev (10,5135%) and related with him OJSC "Unibudinvest" (15,7396%).
As per NBU data, as of July 1, 2009 by the size of total assets (19,132 billion UAH) the bank "Forum" occupied 12th place among 184 existing banks.
OJSC "Raiffeisen Bank Aval" (formerly - bank "Aval") was founded in 1992. The biggest shareholder of the bank as of July 1, 2009 was Raiffeisen International Bank-Holding AG (95,93%).
As per NBU data, as of July 1, 2009 by the size of total assets (57,223 billion UAH) Raiffeisen Bank Aval occupied 2nd place among 184 Ukrainian banks.
PLC "Megabank" (formerly - bank "Dobrodiy")was founded in 1990. The biggest shareholders fo the bank as of July 1, 2009 were CJSC "М-Invest" (38,9981%), OJSC "Stock company Investa" (24,9761%). The biggest beneficiaries till the beginning of July this year were Victor and Olena Subbotin.
As per NBU data, prior to July 1 2009 by the size of total assets (2,95 billion UAH) Megabank occupied 48th place among 184 Ukrainian banks.
"In our report we consider four banks: Raifeisen Bank Aval, Ukrsotsbank, bank "Forum" and Megabank, since all these banks has received a considerable support from shareholders and international financial institutions, in connection with what insolvency problems are not likely in the future.", - is reported in the review. The experts underlined, that papers of other banks traded publicly, were not considered because of their insolvency and high uncertainty: some have received state support, and others are in the process of negotiations of debt restructuring and support from the state. While assessing the share value the analysts used the model of remaining profit, this model being most adequate in the current situation.
In accordance with calculations of invest company, Ukrsotsbank shares: current price 0,318 UAH, fair price - 0,58 UAH, growth potential - 83,94%, number of shares in free trade - 3,36%; for shares of the bank "Forum": current price - 6,7 UAH, fair price - 10,12 UAH, growth potential - 51,07%, number of shares in free trade - 3%; Raiffeisen Bank Aval: current price - 0,319 UAH, fair price - 0,35 UAH, growth potential - 8,39%, number of shares in free trade - 4%; Megabank’s shares: current price - 1,05 UAH, fair price - 1,09 UAH, growth potential - 3,5%, number of shares in free trade – less than 1%.
Ukrsotsbank founded in 1990. Prior to July 1, 2009 UniCredit Bank Austria AG owned 12,8346% shares of Ukrsotsbank, "Ferrotrade International" - 82,1245%.
According to the NBU data, as of July 1, 2009 by the size of total assets (44,976 billion UAH) Ukrsotsbank occupied 6th place among 184 banks, operating in the country.
Bank "Forum" was founded in 1994. The Major shareholder as of July 1, 2009 were Commerzbank Auslandsbanken Holding AG (63,0017%), Leonid Yurishev (10,5135%) and related with him OJSC "Unibudinvest" (15,7396%).
As per NBU data, as of July 1, 2009 by the size of total assets (19,132 billion UAH) the bank "Forum" occupied 12th place among 184 existing banks.
OJSC "Raiffeisen Bank Aval" (formerly - bank "Aval") was founded in 1992. The biggest shareholder of the bank as of July 1, 2009 was Raiffeisen International Bank-Holding AG (95,93%).
As per NBU data, as of July 1, 2009 by the size of total assets (57,223 billion UAH) Raiffeisen Bank Aval occupied 2nd place among 184 Ukrainian banks.
PLC "Megabank" (formerly - bank "Dobrodiy")was founded in 1990. The biggest shareholders fo the bank as of July 1, 2009 were CJSC "М-Invest" (38,9981%), OJSC "Stock company Investa" (24,9761%). The biggest beneficiaries till the beginning of July this year were Victor and Olena Subbotin.
As per NBU data, prior to July 1 2009 by the size of total assets (2,95 billion UAH) Megabank occupied 48th place among 184 Ukrainian banks.
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