Prominvestbank
Prominvestbank continues to expand its already strong capital base and to invest heavily in developing new technologies and both corporate and retail services. In 2003, the bank more than doubled its net profits and improved its return on equity to a handsome 26.6%, well above that of its nearest competitors. The bank’s capital soundness, the highest in the Ukraine, has provided a springboard for growth in the bank’s wide-ranging activities, which include payment card technologies, money transfers and stock market services. The bank is the largest issuer of MasterCard products and the total number of payment cards issued exceeds 1.8m. “The achievements of Prominvestbank in 2003 resulted from hard work while implementing the efficiency formula worked out by the bank’s management: providing high-quality services to customers and scientific cash-flow management, which includes concentration of resources on the priority directions, plus permanent improvement of banking management,” says chairman Volodymyr P Matvienko. The bank’s focus on technology and staff bonus incentive schemes has brought solid growth and strong returns and provided the bank with a reputation for reliability and stability.