20 Oct 2010 14:57

Ukrgazbank boosts assets by 20% in 9 mths

KYIV. Oct 20 (Interfax) - Kyiv-based Ukrgazbank boosted its assets by 19.9% year-on-year to 14.498 billion hryvni (7.9116 hryvni/$1 on October 20, 2010), the bank said in its financial results.

Ukrgazbank saw loans and client debt go up by 21.6% to 11.834 billion hryvni while total obligations increased by 5.9% to 12.699 billion hryvni.

The bank's charter capital increased by 50% to 5.7 billion hryvni in the nine months.

The bank posted net profit coming to 11.476 million hryvni compared to 1.784 billion hryvni in net losses for the same period of 2009.

The bank's net profit for the third quarter came to 5.289 million hryvni, second quarter - 3.823 million hryvni and first quarter - 2.364 million hryvni.

Ukrgazbank was founded in 1993. The bank started participating in a government recapitalization program during the summer of 2009 through which it received around 5 billion hryvni. As a result, the state packet in Ukrgazbank increased by 87.72%.

Ukrgazbank was the 106th biggest CIS bank by assets and the 19th biggest of 182 Ukrainian banks listed in the Interfax-1000: CIS Banks rankings.