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20:08
Kreditprombank's assets up over 75% in 2007

Kyiv, January 22 (Interfax-Ukraine) – Kyiv-based OSJC Kreditprombank in 2007 increased its assets by 75.6%, which as of January 1, 2008 reached UAH 12.504 billion, according to a bank press release.

The bank said that its equity in 2007 grew by 69%, to UAH 1.119 billion, and its highly liquid assets were increased to UAH 1.178 billion.

The bank's credit and investment portfolio doubled to UAH 11.162 billion. In the structure of the credit portfolio, the credits of direct borrowers were 75.7%, interbank credits were 15.8% and investment in securities 8.5%.

The insurance and reserve funds of the bank grew by 70.6%, to UAH 401.2 million.

The bank's net profit in 2007 was UAH 24.9 million, while in 2006 it was UAH 56.898 million.

OJSC Kreditprombank (formerly Inkombank Ukraine) was founded in 1997. The bank's biggest shareholders as of October 1, 2007 were Homertron Trading Limited with 49.9% held directly, Greek citizen Konstantinos Papounidis with 13.9%, and Fintest Holding Limited with 24.2%.

According to the National Bank of Ukraine, as of October 1, 2007, the bank ranked 13th among Ukraine's 173 banks in terms of total assets (UAH 9.966 billion).

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