The Joint-Stock Commercial Bank "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" is a commercial bank headquarted in Kyiv, Ukraine offering a range of banking services through a network of branches and operational offices. "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank is one of the largest banks of Ukraine.
Since its foundation in 1994 "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank proved to be a powerful financial and credit institution, a reliable and stable partner that is consistent with the most contemporary standards of service, enjoying full confidence of its clients in Ukraine and abroad."Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank is a universal bank which renders full range of banking services of the European level, finds an individual approach to each client and adheres to flexibility and efficiency in decision-making.
The majority shareholder of "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank is the International Germany-based banking group:
- Commerzbank AG - 60% + 1 share
In November 2005, the shareholders of "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank completed a secondary private placement of existing shares among foreign investors of approximately 9.4 per cent. of the issued share capital of the Bank. This 9.4 per cent. shareholding was distributed among institutional funds in Western Europe. The shares were placed in the form of Global Depositary Receipts which were registered on the Frankfurt Stock Exchange in early November 2005.Currently 8.34 per cent. of the authorized capital is distributed among foreign investors in the form of GDRs. The nominee holder of the GDRs is the Bank of New York.
Key Figures as at 1 July 2008:
|Balance capital||UAH 1 388.9 million|
|Total balance||UAH 21 761.1 million|
|Net assets||UAH 15 415.3 million|
|Financial result for January-May 2008||UAH 41.6 million|
In Ukraine, banks interact most often with the following government and regulatory bodies:
- The National Bank of Ukraine;
- The State Securities and Stock Markets Commission;
- The tax authorities.
In addition to normal regulatory interactions, "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank has bid for and won tenders to provide services in respect of various state-supported programmes, including:
- Pension payments since 2001, "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" has been approved by the State Pension Fund and the Ministry of Labour and Social Policy to make pension and social welfare payments (and does so in over 60 Ukrainian cities and towns);
- Mortgage financing - "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank works with funds which operate state-sponsored mortgage financing the Fund for Construction of Housing for Young People and the State Mortgage Institution;
- SME lending "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" participates in a programme for financing SMEs, sponsored by the German-Ukrainian Fund, where funds are distributed through the NBU;
- Payroll services in 2005 "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank won a tender to work with the Ministry of Finance in developing a package of payroll and related services to be provided to state-owned companies.
"Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº"s banking licence permits it to perform all banking operations contemplated within the Ukrainian legal framework. "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank also holds licences to carry out security issuance, distribution, trading and broking activities on the Ukrainian stock market; and is licenced to deal in precious metals.
"Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº"s principal activities are corporate banking and individual (retail) banking. We offer banking services to small and medium-sized enterprises («SMEs») as part of our corporate banking business.
Corporate banking, in combination with SME lending, has traditionally been the main focus of our business. The corporate banking business of "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank includes corporate lending (including long-term loans to SMEs and project finance), deposit taking, micro-financing programmes in association with the European Bank for Reconstruction and Development (the «EBRD») and the German-Ukrainian Fund (the «GUF»), trade finance, brokerage, arrangement and underwriting services for corporate bond issues, issuance of promissory notes and investment project management and advisory services.
As part of its corporate lending business to SMEs, which consists of only long-term loans to SMEs, "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" participates in programmes funded by the EBRD and the GUF.
"Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" retail banking activities are primarily deposit taking, cash settlement, retail lending, services relating to pension accounts and foreign currency exchange transactions. We offer a range of bank card products to its retail customers, including debit and VISA and MasterCard credit cards. "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank offers internet-banking services and the ability to access funds through both its own and a shared network of ATMs.
On 28 July 2006, Moodys assigned the following ratings to the JSC Bank "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº": B2 long term local currency deposit rating (with a positive outlook); a short-term local currency rating of Not Prime and a long-term national scale rating of A1.ua. On 1 September 2006, Fitch assigned to "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank an Issuer Default rating of B- with a Stable Outlook, a Short-term rating of B, a Support rating of 5 and an Individual rating of D/E.
On 20 November 2006, Moody's Investors Service has changed the outlook on the B2 long-term foreign currency deposit rating of "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank to positive.
"Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank offers its services via a network of branches and smaller outlets extending throughout Ukraine. The Banks branches and outlets (operational offices) offer a wide range of banking services including lending, documentary transactions, securities operations, foreign currency transactions, settlement and payment transactions and international payment cards operations.
Branches offer the full range of the Banks services to "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" retail and corporate customers. Each branch has its own lending limits and decision making bodies which are customarily established within a year of establishment of the relevant branch. Each of the "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Banks outlets are smaller and may not offer the full range of the Banks services. All outlets offer current and deposit customer accounts and foreign exchange. However, only the larger outlets offer loan facilities, with limits set by the relevant branch or the Banks head office.
The Bank is expanding its network in the most populated and economically developed cities and regions of Ukraine (including Kyiv, Donetsk, Kharkiv, Dnipropetrovsk, Lviv, Odesa, Zaporizhzhia, Luhansk, the Mykolayiv region, the Crimea and other industrial centres).
As at 5 March 2007, "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" network consisted of 28 branches and 170 outlets. As at 5 March 2007 "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank was in the process of registering an additional one new branch and 3 new operational offices.In addition to the representative office that was established in Prague on 12 June 2006, "Ğ£ĞºÑĞ¿ÑĞ¾Ğ¼Ğ±Ğ°Ğ½Ğº" Bank plans to open a representative office in Almaty, Kazakhstan to attract new customers and increase its deposit base. Representative offices will provide advice to foreign companies on the banking services market in Ukraine and to potential foreign investors seeking.