Rodovid Bank To Nearly Double Size Of Branch Network In 2007

Rodovid Bank (RODB) announced yesterday that it plans to increase its number of outlets from 184 to 329 in 2007. In November, Rodovid announced plans to place a 10% stake among foreign investors in 2007. Last April, the bank sold an 18.9% stake for USD 47 mln. Rodovid Bank is Ukraine’s 28th largest bank in terms of assets. Alexander Viktorov: Rodovid’s network expansion plans are in line with its focus on developing its retail arm. The bank’s retail loans grew by 186% ytd bringing the share of retail in the bank’s total loan portfolio to 17% (up from 3.6% at the beginning of 2006). RODB’s recent USD 20 mln bond issue and announced private placement plans will likely be used to finance expansion.