Ukrsotsbank Looking To Increase Net Assets By 54% In 2007
23 January 2007
Ukrsotsbank (USCB: BUY) announced yesterday that it plans to increase its net assets by USD 3.5 bln to USD 5.3 bln in 2007. In 2006, Ukrsotsbank’s (USCB: BUY) net profits reached USD 57.3 mln, almost 2.5 times greater than the bank’s 2005 profits (USD 23.2 mln). According to the bank’s CEO Boris Timonkin, 2006 was a record year for USCB in terms of profits. The bank’s loan portfolio increased by 75% yoy to USD 2.5 mln, of which retail clients accounted for USD 1.4 mln, and corporate clients made up 1.1 mln. USCB is Ukriane’s 6th largest bank in terms of assets.
