Back to press releases
  • Press release

UkrSibbank has just completed a USD 500 million bond issue aimed at financing its rapid growthThe bank is currently the third largest in Ukraine.

UkrSibbank has just completed the successful issue of USD 500 million in five-year bonds. The goal of the issue was to raise funds to support the bank's rapid growth. Today, UkrSibbank is the third largest bank in Ukraine in terms of total assets. It ranked fifth at the end of 2005, when BNP Paribas acquired a 51% stake of its capital. UkrSibbank is very well positioned in the retail banking sector for private and corporate customers and is a leader in Ukrainian investment banking.

Its expansion in just one year has been meteoric, at a time when the Ukrainian population is increasingly using banking services. Today the bank has 969 outlets, as compared with 817 in December 2005. Its assets total USD 3.5 billion against USD 2.1 billion at the beginning of the year. Its market share in Ukraine has also climbed from 5% at the end of 2005 to 6.2% today.

UkrSibbank is capitalising on the fast-growing Ukrainian economy. The country's GDP grew by 6.5% in the first ten months of 2006. This very favourable environment has given a boost to the banking sector, whose total assets grew by 59% between 1st Half 2005 and 1st Half 2006. UkrSibbank performed even better than the sector's average with an increase of over 67% in total assets between January and October 2006.

The recently completed bond issue will sustain its expansion and ongoing growth strategy for the next few years. UkrSibbank wishes to reinforce its retail banking position and further strengthen its position as a leader in investment banking. For 2007, it has set the objective of increasing its market share and continuing its growth, particularly by increasing its range of credit products.

The Ukrainian market is made up of 47 million inhabitants (the second largest in the region after Russia), and it combines two advantages: positive growth perspectives and moderating inflation. The country has a strong appeal in international circles, and is increasingly attractive to foreign investors, especially since the European Union regarded Ukraine as a market economy. It has one of the lowest proportions of people with bank accounts in the region, and the annual growth of Ukrainian loans and deposits has been over 30% since 2000.

About BNP Paribas
BNP Paribas ( is a European leader in banking and financial services, and ranks among the world's top 15 banks by market capitalization. It has around 140 000 employees, 110 000 of whom are based in Europe. The group occupies leading positions in three significant fields of activity: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and has a strong presence in all the key financial centres. Present throughout Europe, in all its business lines, France and Italy are its two domestic markets in retail banking. BNP Paribas enjoys a significant and growing presence in the United States and leading positions in Asia and in emerging markets.