Financial Initiatives Agency and Standard & Poor’s Governance Services announced the results of its transparency and disclosure survey of the 30 largest Ukrainian banks in 2008.
UkrGasBank is ranked 1st with a score of 71.2%
Analysts point out that UkrGasBank is the first Ukrainian bank in the history of such surveys to exceed 70%. This outcome is in line with analogous metrics of the leading financial institutions across the globe.
Sergei Krisevich, corporate secretary of UkrGasBank, notes that «UGB keeps on improving its policy of openness and transparency. Being open and see-through is one of the key pillars of corporate governance, highlighted by the Bank. At the same time, UkrGasBank does not aim at any rankings, albeit is pleased to receive such a recognition. I am confident that Bank’s openness is a pledge for the trust shown both from investors and customers. We will certainly continue our efforts in this respect».
UkrGasBank was established in 1993. Legal form: Open Joint Stock Bank
Top 20 Ukrainian bank Total assets – USD2 613m, shareholders’ equity – USD245m as of 1 July 2008
Universal bank of a national scale with 15 years experience in the Ukrainian market
Strong focus on SME’s and retail banking
Transparency and public information policy
Corporate governance meeting international standards and world’s best practices
Accounts audited by Deloitte & Touche under IFRS since 1997
Heavy emphasis on enhanced risk management policies
Nationwide network represented by over 355 points of sale for over 18,000 corporate and 600,000 retail clients as of 1 July 2008
Principal member of MasterCard (2000), VISA (2002) and UkrCard (2002)
International and local ratings:
Fitch: Long-term IDR 'B-', Short-term IDR 'B',
National Long-term 'BBB-' (ukr), Stable
Moody’s: B2/Not prime foreign currency deposit, E+ FSR, ‘A2.ua/-‘NSR bank deposits - domestic currency, Stable
International track record:
December 2006 - $16m debut syndicated loan
June 2007 - $46m syndicated loan
December 2007 - $20m syndicated loan
August 2008 - $23m syndicated loan
Participation in international projects:
2004 - The EC TACIS programme Banking sector reform in Ukraine
2005 - The USAID Programme on Development of Mortgage Loans in Ukraine
2006 - The IFC project Corporate Governance in the Ukrainian Banking Sector
2007 - The World Bank Export Development Project-2
An active player in card, securities, bank metals market, documentary business and project finance.