JSCIB “UkrSibbank” (BNP Paribas Group) is a traditional leader among financial institutions of Ukraine.
As of 31 December 2007, according to the IFRS, total assets of the Bank amounted to USD 7 261 million, equity of the Bank reached USD 637,2 million, credit portfolio was equal to USD 6 026 million, customer accounts – USD 2 303 million.
The Bank’s branch network consist³s of more than 1000 banking units all over Ukraine. Over 190 thousand Ukrainian corporations, small and medium enterprises are clients of JSCIB “UkrSibbank” and the number of individual clients exceeds 1,1 million. The Bank’s strategy is aimed at the development of its retail and investment banking activities as well as at expansion of its international business.
In 2004-2008 JSCIB “UkrSibbank” successfully placed five issues of its Eurobonds (LPNs) originated USD 100 (repaid), 125 (repaid), 500, 200 and 250 million. During the initial offering the demand for these issues from foreign investors was very high. In April 2006 after the acquisition deal of the 51% stake in JSCIB “UkrSibbank” by BNP Paribas international credit rating agencies Moody’s and Fitch Ratings increased the bank’s Eurobond ratings up to “Ba2” and “BB-” respectively. In April 2007 JSCIB “UkrSibbank” fully repaid its debut USD100 mln Eurobond issue, in July 2008 – USD 125 mln.
In 2005 JSCIB “UkrSibbank” attracted two syndicated loans with the amounts of USD 37 and 115 million for 1 year with the extension option for the same tenor. Having alternative sources of funding, JSCIB “UkrSibbank” did not use extension options and fully repaid both credits in 2006. In May 2007 a syndicated loan in the amount of USD 250 mln was arranged for 2 years. In October 2007 a new syndicated loan was arranged with the total amount of USD 110 mln, which consists of two tranches in the amount of USD 80 mln and USD 30 mln for two and one year respectively. In the future the Bank will use syndicated loan structure as a way of increasing foreign borrowings, if required. Syndicated loans are interested not only because of their attractive pricing and the ability to produce a successful credit history on the international capital markets, but also as a convenient procedure to raise funds.
Due to its unique experience JSICB “UkrSibbank” is able to assist other Ukrainian companies with raising foreign funding, as well as receiving international credit ratings.
By developing of trade finance business in 2004-2008 JSCIB “UkrSibbank” singed credit agreements with leading banks of the world: BNP Paribas (Paris), Commerzbank AG (Frankfurt am Main), Dresdner Bank AG (Frankfurt am Main), Deutsche Bank AG (Frankfurt am Main) and Bayerische Hypo – und Vereinsbank AG (Munich), AKA (Frankfurt am Main), UBS AG (Zurich).
Loan agreements, singed by the Bank to contribute development of international trade, allow utilization of long-term credit resources under the cover of foreign export credit agencies (ECA). JSCIB “UkrSibbank” is financing import under the cover of the following export credit agencies: HERMES (Germany), SACE (Italy), ATRADIUS (the Netherlands), COFACE (France), ECGD (UK), CESCE (Spain), EDC (Canada), EGAP (the Czech Republic), MEHIB (Hungary), SERV (Switzerland), KUKE (Poland), US Exim (USA), SINOSURE (China) and other countries. Resources are provided for the term up to 7 years for the purpose of financing Ukrainian enterprises which import equipment, goods and services from Germany, Italy, the Netherlands, France, the United Kingdom, Spain, Canada, the Czech Republic, Hungary, Switzerland, Poland, USA, China and other countries.
Moreover credit agreements signed by JSCIB “UkrSibbank” with JP Morgan Chase Bank N.A. (Great Britain), Credit Suisse (Switzerland), Sumitomo Mitsui Banking Corporation (Great Britain), Intesa Soditic Trade Finance Limited (Great Britain), Komercni banka, a.s. (the Czech Republic), UBS AG (Switzerland) Fortis Bank S.A. (Belgium), Garantibank International N.V. (the Netherlands) allow attraction of short-term credit recourses within one year for financing of export-import transactions of clients.
JSCIB “UkrSibbank” is a participant of Export Credit Guarantee Program (GSM-102), which is initiated by U.S. Department of Agriculture. Participation in the program allows the Bank to finance its clients, who import agricultural products from the USA, by using funds from U.S. banks against the guarantee of Commodity Credit Corporation.
The Bank can also work with other financial institutions without a collateral on a case-by-case basis.
A substantial factor, that indicates stability and reliability of JSCIB “UkrSibbank”, is the fact that the bank was awarded the following credit ratings from the international credit agencies in foreign currency:
and national scale ratings:
In April 2006 the deal on the acquisition of the 51% stake in JSCIB “UkrSibbank” by BNP Paribas was completed. Other 49% shares of the JSÑIB “UkrSibbank” remain with the original shareholders of the Bank.
BNP Paribas is in the top ten leading international banks and undertakes its activity in more then 85 countries of the world. The French bank is a leader in trade and structured finance and origination of debt securities. The Bank’s headquarter is located in Paris. According to “The Banker” (2007) magazine, BNP Paribas took third place among the top international banks by assets.
JSCIB “UkrSibbank” preserves its development strategy as a universal bank with providing a wide range of banking services for individuals and legal entities. Consumer lending, leasing and insurance are developing strongly. Advanced technologies of BNP Paribas are used to improve standards and quality of customers servicing, to increase the product range of JSCIB “UkrSibbank”.
Please address your requests for further information or co-operation proposals to the International Business Department of JSCIB “UkrSibbank”:
Vadim Mironyuk
Managing Director of International Banking
E-mail: v_mironyuk@ukrsibbank.com
2/12 Andriyivska St., Kyiv, 04070, Ukraine