OREANDA-NEWS. March 10, 2010. The shareholders of Ukrsotsbank decided to distribute the bank’s 2009 Net Income of UAH 126.7mn in the following way: UAH 6.3mn will be directed to the bank’s loans reserve increase; UAH 0.03mn will be paid as privileged share dividends, while the remaining UAH 120.6mn will be directed to other funds.

Millennium Capital sees the news to be neutral for USCB, since, as Millennium Capital wrote in its trade idea previously, the loan reserves of the bank are quite moderate and will need additional provisions in the future. Millennium Capital expects Ukrsotsbank to maintain its restricted reserve deduction policy in 2010 due to the announced plans to triple its Net Income in 2010.