Ukrsotsbank Increases Net Assets By 15.3% In 1Q

Ukrsotsbank (USCB: BUY), Ukraine’s sixth largest bank by assets and an acquisition target of Banca Intesa, reported in a press release that it had boosted its net assets by 15.3% in 3M07 to about USD 4 bln. Earlier the bank announced plans to boost net assets to USD 5.3 bln in 2007. During 1Q07, Ukrsotsbank increased its loan portfolio by 14% to USD 2.86 bln (retail clients made up USD 1.6 mln and corporate clients accounted for about USD 1.3 mln).