Prominvestbank - Recent Historical Overview

Recent Historical Overview

1992 - On the 26th of August 1992 the Ukrainian Joint-Stock Commercial Industrial and Investment Bank (Prominvestbank of Ukraine) was established with Mr. Volodymyr P. Matvienko, (professor, first Governor of the National Bank of Ukraine) at the head. The Bank became a member of the Ukrainian Chamber of Commerce and Industry, established corresponding relations with banks from 33 countries, doubled the number of its currency exchange offices. The number of foreign currency accounts opened by clients with the Bank increased by 6.5 times. The Bank began implementing advanced banking related technology.

1993 - Prominvestbank actively finances the real economy. The volume of loans increased 20 times as compared to 1992. The Bank's strategy is aimed at the self-supply by own credit funding. As a result of this, the Bank's capital grew 134.3 times and raised funding by 16 times. The Bank opened various currency accounts for private customers and introduced new services. The Bank became a member of SWIFT. International settlements developed rapidly. Prominvestbank opened correspondent accounts with 48 foreign banks. Expansion of the branch network. For the first time in Ukraine, banking business was fully computerized.

1994 - Completion of the transfer of all internal banking customers' settlements through a newly established Bank's Clearing Center. The Bank launched the transition to the method of settlements including the use of an advanced model of servicing of the consolidated correspondent account with the National Bank of Ukraine.

1995 - Despite the unfavorable environment of the deepening national economic crisis, Prominvestbank developed and strengthened its leading position among the commercial banks of the country. The Bank's capital grew almost 4 times, and the share capital 5 times. Prominvestbank made up almost 20% of the banking capital in Ukraine. The Bank financed all key sectors of the economy. Payment card technologies were launched and 412 local payment cards of the Bank were issued.

1996 - The capital increased by 71% over the year. The Bank carried out projects for the development of the national aircraft and ship-building industries as well as the financing of coal-mining companies. Prominvestbank became a member of the Ukrainian Interbank Currency Exchange and of the Off-Stock Exchange Trading System. The Bank took an active part in the introduction of the new Ukrainian currency - the Hryvnia.

1997 - The Bank's capital grew by 25% and deposits by 2.4 times. Introduction of International Payment cards, the Bank became a member of the international payment systems VISA, EUROPAY, MasterCard International. Kyiv Banking Institute was established.

1998 - Prominvestbank was the only bank to provide bank services with Russia during the financial crisis. According to the opinion poll by "Business" newspaper (weekly information & analytical business edition which covers all aspects of business activities in Ukraine), Prominvestbank was recognized as the best bank in Ukraine. The Bank's accounting was converted to International Accounting Standards.

1999 - The Bank's Loan Portfolio grew 3 times as compared to 1998. The capital reached UAH 682.7 million, making it, at the time, the largest Ukrainian bank by share capital. The Bank's management structure was reorganized. According to "The Banker" magazine, the Bank ranks among 500 top European banks and is in 1118th place among 2000 top world banks.

2000 - The Bank's key performance indicators (credit funding, resource base, capital) are up. The Bank's international ranking has risen to the 1006th place among the top world banks.

2001 - The Bank won a tender for the provision of services of pensions and financial aid payment. MoneyGram international transfers launched.

2002 - According to "The Banker" magazine, the Bank is ranked among the top 20 banks of the Central and Eastern Europe and is the 980th among the top 1000 world banks.

2003 - Prominvestbank was awarded the prestigious Bank of the Year for Ukraine by "The Banker" magazine. The Bank is the only Ukrainian bank ranked among the top 1000 world banks and 25 leading banks in Central and Eastern Europe.

2004 - The Bank's key performance indicators increased. The system of the central management was improved, which promoted the level of management and increased the responsibility for the results. "The Banker" magazine awarded Prominvestbank the Bank of the Year for Ukraine for the second year in a row.

2005 - Prominvestbank is increasing the volumes of investment lending to the economy, including agro-industrial complex. The Bank supports projects of national importance, improves efficiency of transactions, develops the branch network, and introduces new services for clients. Prominvestbank has been authorized to pay out salaries to employees of state companies and public social aid in all regions of Ukraine.

2006 - "The Banker" magazine for the third time declared Prominvestbank as the best Bank in Ukraine in terms of its qualitative characteristic such as: solvency, liquidity and effectiveness. "The Banker" magazine (Financial Times Group) is the world-famous English financial magazine. Over the last five years the Bank has improved its position by 135 positions in the prestigious rating list of the world's leading banks and now holds position 871.

2007 - The Bank improved its key performance indicators. Moody's international rating agency (New York) assigned to Prominvestbank one of the highest ratings among Ukrainian banks. The Bank received international recognition, in particular certificates of excellence of money transfer system MoneyGram and honorary diploma of Western Union Financial Services GMBH. The Bank is ranked among the top 1,000 world banks, having improved its position over the last six years by 167 positions.