Prominvestbank
Prominvestbank’s strategy in 2005 resulted in significant growth in net profits of 71.9% to $62.4m and a significant increase in profitability, with RoE rising to 22.6% from 16.2% the previous year.
The universal commercial bank, which provides services to 3.5 million customers, continued to show sizeable asset growth which reached 44.5% in 2005.
The bank, which actively finances retail customers, saw retail loans grow 2.7 times in 2005 with special attention being paid to young customers who are offered special loan programmes for education and housing. The bank is also active in investment lending, which represents 40% of total loans and is one of the largest traders of foreign currency in the Ukraine’s FX market which grew by 20% in 2005.
Prominvestmentbank is also the largest agent of Moneygram in the country and the bank has increased the network of transfer centres by 35.4% while the volume of international transfers grew by 9%.
Chairman Professor VP Matvienko notes: “Prominvestbank has been awarded this ‘financial Oscar’ for the third time and every time it is an achievement of higher professional standards for us. In 2005, Prominvestbank increased the number of transactions by 1.5 times, profitability reached 20%. Advanced technologies enable us to perform online client payments and the bank cooperates with 222 foreign financial institutions from 41 countries.
“The strategy of Prominvestbank is innovative and investment focused; two-thirds of the credit portfolio is high-technology projects. Transparency and reliability are the characteristic features of Prominvestbank, which, like The Banker, has more than 80 years of history.”
