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16:52
NET LOSSES OF SWEDBANK REACH ALMOST UAH 479 M IN H1, 2009

Kyiv, July 28 (Interfax-Ukraine) – The net losses of Kyiv-based Swedbank in January to June 2009 came to UAH 478.942 million, while year-over-year the bank enjoyed UAH 15.772 million in net profit, a bank report says.

The bank said that its net losses in Q2, 2009 stood at UAH 311.283 million (the net losses in Q1, 2009 were UAH 167.659 million), while year-over-year its net profit was UAH 10.32 million.

The bank's total assets in H1, 2009 shrank by 13.1%, to UAH 13.841 billion, and its total liabilities went down by 13.8%, to UAH 11.993 billion.

OJSC Swedbank (earlier TAS-Kommerzbank) has been operating on the Ukrainian market since 1991. As of July 1, 2009, its largest shareholder was Swedbank (Sweden) with a 99.9995% stake.

According to the National Bank of Ukraine, as of April 1, 2009, the bank ranked 15th among the 182 operating banks in Ukraine in terms of total assets (UAH 15.137 billion).

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