Megabank to Double Assets over 2008

Megabank (MEGA: BUY) plans to double assets to USD 0.8 bln by the end of 2008, according to the bank’s website. Megabank will accomplish the growth mostly by increasing its loan portfolio from USD 360 mln currently to USD 626 mln; retail loans are expected to triple to USD 246 mln or 39% of the bank’s total loan portfolio. Moreover, the bank announced it intends to open 35 new branches throughout Ukraine in 2008 and 81 outlets for accepting household utility payments as part of its Integral Clearing Center program.