Ukrgazbank to Increase Net Assets by 56% yoy in 2008
4 March 2008
Ukrgazbank (UGZB: HOLD) plans to increase net assets by 56% yoy to USD 3.18 bln in 2008, said the director of the bank’s finance and budget department, Anna Tychino, to Interfax. Tychino said that the bank’s loan portfolio share in total assets would grow 56% this year, implying 90% growth yoy to USD 1.8 bln; while customer accounts will expand by 51% yoy to USD 1.5 bln. According to an Ukrgazbank press release, the bank and state-controlled Oschadbank have agreed to merge their ATM networks. The collective network would total about 3,350 ATMs.
