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Jsb Ukrgasbank Annual Report

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Jsb Ukrgasbank Annual Report UKRGASBANK 2015 JSB UKRGASBANK ANNUAL REPORT If you want to achieve your goals, you need only one thing. To go. HONORÉ DE BALZAC 1 UKRGASBANK ANNUAL REPORT • 2015 CONTENT UKRGASBANK Table of Contents SECTION 1. Our Business Card . 7 1. Our Business Card. 8 6.2.4. Remote Services . 49 6.3. Retail Banking. 49 1.1. Members of the Supervisory Board. 8 6.3.1. Lending. 49 1.2. Members of the Management Board. 10 6.3.2. Payment Services. 50 1.3. Top Executives Who Are Not Members of the Management Board . 11 6.3.3. Time Deposits. 51 1.4. Mission. Strategic Goals . 12 6.3.4. Alternative Channels and Card Products. 53 1.5. Licenses and Permits. 14 6.3.5. International Transfers and Payments. 54 1.6. Affiliates . 15 6.4. Cash Collection and Valuables Transportation. 54 1.7. Organizational Structure of JSB UKRGASBANK’s Head Office. 16 6.5. Investment Business. Securities . 55 1.8. Personnel. 18 6.6. Treasury Business. 56 1.9. Our History. 19 6.6.1. Interbank Market Transactions . 56 1.10. Ratings . 23 6.6.2. Transactions with Government Debt. 56 1.11. Financial Performance Review. 26 6.6.3. Transactions with Bank Metals and Cash Currency . 56 1.12. Membership in Payment Systems. 27 6.6.4. Development of Correspondent Relations. 57 1.13. Membership in Interbank Unions, Exchanges, and Associations . 27 6.6.5. Marginal Trading Arbitrage Business (Forex Transactions for Private Clients). 58 1.14. Structural Divisions. 28 6.6.6. Investment Coins and Foreign Coins. 60 6.7. Custody Business. 60 SECTION 2. 6.8. Individual Banking. 60 Corporate Governance . 29 6.9. Remote Services. 62 2. Corporate Governance. 30 2.1. Corporate Governance System . 30 SECTION 7. 2.2. Major Shareholders. 30 Partnership and Cooperation. 65 2.3. Shareholder’s Equity Development. 31 7. Partnership and Cooperation. 66 2.4. Dividend Policy . 31 2.5. Management Board and Supervisory Board Compensation. 32 7.1. International Money Transfer Systems . 66 2.6. Identification and Management of Conflicts of Interest . 32 7.2. Car Dealers and Importers. 66 7.3. Real Estate Developers. 67 7.4. Consumer Lending Partner Banks. 68 SECTION 3. 7.5. Cooperation with State Authorities . 68 Risk Management. 33 7.6. Cooperation with the Individual Deposit Guarantee Fund . 69 3. Risk Management . 34 7.7. Concierge Companies. 69 7.8. Insurance Companies. 69 7.9. Appraising Companies . 71 SECTION 4. 7.10. Asset Management Companies. 73 Internal Control System . 37 7.11. Securities Depositories. 73 4. Internal Control System. 38 7.12. Stock Exchanges . 73 7.13. Financial Institutions Refinancing Housing Mortgage Loans. 74 SECTION 5. Information Technologies Development . 39 SECTION 8. 5. Information Technologies Development. 40 Financial Performance Overview . 75 8. Financial Performance Overview. 76 8.1. Financial Results . 76 SECTION 6. 8.2. Income . 77 Business Development . 41 8.3. Expenses. 79 6. Business Development . 42 6.1. Corporate Banking . 42 6.1.1. Asset Transactions . 42 SECTION 9. 6.1.2. Liability Transactions. 44 UKRGASBANK Financial Statements . 81 6.1.3. Documentary Business . 45 6.2. Small and Medium-sized Enterprises (SME) Business. 46 6.2.1. Development of the SME Business in UKRGASBANK . 46 6.2.2. SME Asset Transactions. Priority SME Support Programs. 46 6.2.3. Funding Transactions and Payment Services . 47 2 3 UKRGASBANK ANNUAL REPORT • 2015 UKRGASBANK Dear shareholders, Dear colleagues and partners, Year 2015 put our country, its economy and the whole Ukrainian people to a serious test. The last year was Some people say that a long journey will only be successful if you consider your very first step carefully. However, especially difficult for Ukraine’s banking sector. UKRGASBANK was no exception. However, the concerted and in early 2015 we could only vacillate on choosing a leg, not on anything else. The situation at that time required us to efficient work of all the Bank’s management and employees enabled the Bank to evolve positively in terms of the clearly understand the goals, to properly choose methods for achieving them, and to proceed incessantly to achieve most of its indicators. UKRGASBANK retained confidence of its partners and customers, improved its positions the goals. Working together, we managed to make each component of this algorithm a success. on Ukraine’s banking market and, as a result, became the only profitable bank with a considerable state-owned The full-scale partnership and all-round support of the Bank’s development strategy by the state represented by interest in the authorized capital. the Ministry of Finance of Ukraine as the main shareholder created a reliable foundation for UKRGASBANK’s revival. The high professional level of our managers enabled the Bank to optimally identify the priority areas of the Bank’s The incessant support by the state played an important role in our achievements, as the state increased its development. The cohesion and the commitment of UKRGASBANK’s entire team supported the full implementation percentage of the Bank’s authorized capital in 2015 to 94.9409 percent. As a result, UKRGASBANK offers a bright of each step in this process. and, for the time being, unique example of the successful bank recapitalization demonstrating a successful blend of the state capital investment and the efficient work of the Bank’s team. So we all can be proud of each step we made along this 365-days long way. It had not been trodden yet, and we blazed the trail for those who would follow us. We became leaders both in implementing public energy efficiency In 2015, UKRGASBANK carried out a number of unique transactions on the Ukrainian market successfully programs and in managing distressed debt. We will make good use of our experience in P&A business, international including the resolution of Kyiv Bank (PJSC JSCB Kyiv) by means of the purchase of its assets and liabilities. Thanks financial cooperation and in many other areas of banking. Our success is evidenced by the profit of more than a to this transaction, not only individual customers, but also legal entities have regained the full control over their quarter billion hryvnias earned in the hardest time for the country which is unique among state-owned banks in funds, so this transaction contributed positively to the stabilization of the domestic banking market as a whole. Ukraine. We also doubled our assets and won 140 thousand new customers who see UKRGASBANK as their reliable and stable business partner. UKRGASBANK’s team created all the necessary preconditions for the long-term stable operation of the Bank. The Bank’s active participation in the public energy efficiency initiatives, the implementation of a number of However, I believe that our confidence in ourselves and redoubled demands to ourselves in the future in spite of programs aimed at supporting agriculture, small and medium enterprises.
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