OREANDA-NEWS. September 29, 2009. "MEGABANK" was visited by director of EBRD Bank relations Jean-Marc Peterschmitt. Within the frame work of a visit J.-M. Peterschmitt and "MEGABANK"'s chairman of the board Elena Zhukova have signed loan agreement on providing the bank a long term financing for the amount of 15 million USD. After the signing the representative of EBRD answered some questions of "SQ", reported the press-centre of MEGABANK.

- How do you assess the situation on Ukraine's banking market?
- Currently the situation is very difficult. I believe that Ukraine as other countries survives difficult times. The crisis is felt in full in Ukraine and it influences the economy as a whole, and on Ukrainian banks' portfolios, their liquidity and banking capital. In order to keep the banking system afloat, shareholders of Ukrainian banks should make tough decisions. We are working hand in hand with our partners, trying to facilitate this process. I believe, our efforts will lead to stabilization of the situation and help banks effectively work with their clients, what in turn, will foster the growth of economy.

I have to note that the results of EBRD activity in Ukraine by the end of the year about 500 mln EURO into the banking sector. Therefore we can state that EBRD makes great efforts in this direction, because the main objective of our cooperation with the banks is strengthening of their liquidity and resumption of lending to real sector of economy.

We are working with many big Ukrainian and foreign banks, and quite recently have entered into incorporators of of PJSC "MEGABANK". I would like to underline this investment. Despite the fact that the bank is a middle size one, it's a very reliable bank. And we believe that this financial institution has all possibilities for successful growth in the future.

- Which criteria were important for EBRD while picking the partner bank for investment?
- We look first of all, those banks, which are financially sound and occupy strong positions on national or local level. These banks should have highly professional management and systemized work, which ensured providing the widest range of services for clients. Megabank has all these features. In EBRD we believe that it has the potential for future growth and we want to promote it.

- What is the essence of the agreement signed today?
- We began to work with megabank in 2007, when we signed the first loan agreement. In the last several months we have developed our partnership and entered the incorporators of "MEGABANK". Today we have granted to the bank another loan tranche in the amount of 15 mln USD. This loan will enable Megabank to expand its presence on the market. There are many perspective clients in the region, enterprises of small and medium businesses, which have not yet obtained an access to loan resources. Due to the tranche such clients will be credited, and "MEGABANK" - attract new clients.

- How does the EBRD as a new shareholder of "MEGABANK" intend to influence the strategy of its activity?
- We want to help the bank to become a stable financial structure and we will give it some pieces of advice and support to management of Megabank. Besides, we would like to cooperate with the supervisory board of the bank and will submit our representative as a member. Considering the effective work of the supervisory board, I believe that by joint efforts we can do the work of Megabank even more successful.

- Will the priorities be changed in bank's operations?
- We do not want to change the course or tactics of work which follows the Megabank's management. EBRD has become the bank's partner, because we like what and how Megabank does business. It’s a solid foundation upon which we would like to develop the bank.

- How do you asses the work of Megabank's exclusive product  - Integrated clearing center?
- This is really a unique product, which is of value for the clients. ICC, on the one hand, facilitates payment of bills of utility companies, and on the other - it very handy for the companies themselves. This is a very good aspect of bank's operation.

- Does EBRD plan to sign investment agreements with other banks of Ukraine?
- There are some other banks, with which we will sign agreements by the end of this year. These are those banks which meet our vision how to do the business and which instruments to use.

- Are there any sings that Ukrainian financial sector is getting out of crisis?
- Definitely, we fell the pinch and would like to see it getting over. But we do not see them yet. I do not want to make the prognosis when the crisis will be over, but I think that 2010 will be the year of recovery of the financial system.  First of all, we sould see the stabilization of the situation, and only after that we can talk about active actions especially I the sphere of lending to the clients.

- Are there more signs of recovery of financial system in Eastern Europe than in Ukraine?

- It's an international crisis which hit all countries. In some of them the situation is improving. But globally the situation is very unstable and we cannot say that in some country the crisis is already over.