Prominvestbank
Prominvestbank has been cited for the award owing to its steady growth in profits and assets, and its sophisticated technology.
The bank, which is Ukraine’s market leader, grew net profit by 14.7% and had a ROE of 39.2%. Its assets rose 30.8% to $962.1m. Among these assets, the bank has, in the 11 years since the end of the Soviet Union, accumulated capital totalling $157m.
Natalia Gavrylyuk, chief of operations at Prominvestbank, regards the bank’s considerable capital as a guarantee of stability and reliability. “Owing to this fact, Prominvestbank can provide a single borrower with much more significant amounts of credits than other [Ukrainian] banks can,” she said. Prominvestbank boosted its loan portfolio in 2002 by 55.2% to $826m.
The bank also improved the system of cash flow management for its corporate customers last year, allowing them to monitor and control cash flows of their branches and subsidiaries. Owing to its sophisticated technology, the bank has emerged as the main trader on the Ukrainian foreign exchange market, earning $1.8bn.
