Prominvestbank in Ukraine looks to boost assets 6.4% in 2012
KYIV. Jan 25 (Interfax) - Kyiv-based Prominvestbank plans to grow its net assets 6.4% this year to 40.6 billion hryvna, head of the bank's management board Viktor Bashkirov told Interfax.
The bank is looking to increase its corporate loan portfolio 12.5% to 31.5 billion hryvna. The bank's business plan for this year also has net retail loan portfolio growth of 367.8 million hryvna to 1.161 billion hryvna at year-end.
Prominvestbank has signed a strategic partnership agreement with Dunia Finance LLC (part of Temasek Holdings of Singapore) for working up a development program for the bank's retail business, Bashkirov said. This deal involves the company providing the bank with a targeted operating platform, product and marketing resolutions, and adjusting bank branch formats to develop retail operations.
Sixty-four of the bank's branches are already focusing on servicing private clients under this project, he said. The bank will be continuing to fine-tune its regional network as this year goes on, he said.
"The optimization of the regional network includes reducing it further. I think that this year the ban's regional network will contract by 15% with the closing of unprofitable sections. Where in March of 2009 the bank's regional network included 861 structural subdivisions, now there are 168 left. But during that period the bank's net assets increased from 26.5 billion hryvna to 38.2 billion hryvna," Bashkirov said.
Prominvestbank was set up in 1992. Its main shareholder as of October 1 last year was Russia's Vnesheconombank with 97.85%. National Bank of Ukraine figures show that Prominvestbank ranked 8th among the country's 175 banks by asset volume.