Hot topics:

A Billion Bucks Lost

16 February, 00:00

The Ukrainian banking system's performance in 1998 has supposedly been summed up. During this period the banks' revenues amounted to Hr 470.9 million (Hr 970 million in 1997). As of January 1, 1999, overall bank capital was estimated at Hr 4.2 billion (Hr 4.1 billion as of January 1, 1998), reports Oleksandr Suhoniako, President of the Association of Ukrainian Banks.

He further notes that devaluation cost Ukrainian banks almost $1 billion. Bank assets grew by 24.1% during the year, bringing the total to Hr 20.093 million (Hr 16.189 million in 1997).

According to Mr. Suhoniako, 214 commercial banks, including two state-run banks (Oshchadbank and Ukreksimbank) were registered as of January 1, 1999, compared to 227 banks at the start of the previous year. Three new (all with 100% foreign capital) were registered in 1998, 16 banks liquidated (of which 3 were reorganized). 33 were subject to liquidation proceedings as of Jan. 1, 1999, 17 were being reorganized, and four banks suspended operations. At present, Ukraine boasts 176 banks (82% officially registered) with NBU licenses allowing banking transactions. Of these 161 are authorized to conduct foreign exchange operations.

The association also published domestic bank ratings as of Jan. 1, 1999. Infobank presents the following picture:

Net assets. (1) Privatbank (Dnipropetrovsk): Hr 1,806.66 million. (2) Oshchadbank: Hr 1,125.28 million. (3) Aval: Hr 1,69.64 million.

Revenues. (1) Sloviansky (Zaporizhzhia): Hr 64,889,000. (2) Privatbank: Hr 35,258,000. (3) Societe Generale Ukraine: Hr 27,442,000.

Authorized capital stock: (1) Privatbank: ECU 28,010,000. (2) Ukrsybbank (Kharkiv): ECU 22,510,000. (3) Aval: ECU 8,067,000.

Own funds: (1) Privatbank: Hr 222,010,000. (2) Oshchadbank: Hr 114,018,000. (3) Sloviansky: Hr 131,040,000.

Citizens' deposits in hryvnias. (1) Oshchadbank: Hr 811,752,000. (2) Privatbank: Hr 449,157,000. (3) Aval: Hr 140,588,000.

Newspaper output №:

№6, (1999)

Section

Economy