Oschadbank
Investor Presentation
May 2015 | Strictly Private & Confidential
YE2014 IFRS Financial Highlights and
Financial Trends 2010-2014
•
•
•
•
•
•
•
•
•
•
•
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2
Oschadbank‘s market position
(page 3)
2014 Balance Sheet
(page 4)
2014 Profit and Loss Statement
(page 5)
Balance Sheet Composition
(page 6)
Loan Portfolio Analysis
(page 7)
Corporate Banking
(page 8)
Oschadbank and Naftogaz
(page 9)
Retail Banking
(page 10)
Financial Performance Trend (Balance Sheet)
(page 11)
Financial Performance Trend (P&L)
(page 12)
Assets and Liabilities Maturity and Currency Profile
(page 13)
Cooperation with International Financial Institutions
(page 14)
Oschadbank’s Market Position Among Peers
By Total Assets
UAH Bln
By Loans to Customers (Gross)
By Impairment Allowances
UAH Bln
UAH Bln
184,8
204,6
25,8
128,1
24,5
23,4
126,0
95,1
13,9
12,3
76,6
60,3
PRIVAT
OSCHAD
UKREXIM
DELTA
52,7
48,6
48,3
PROMINV UNICREDIT
PRIVAT
OSCHAD
UKREXIM
DELTA
44,8
44,3
UNICREDIT PROMINV
5,8
OSCHAD
UKREXIM
PRIVAT
By Securities Portfolio
By Total Equity
By Retail Deposits
UAH Bln
UAH Bln
UAH Bln
42,0
22,8
40,0
22,7
RAIFF
UNICREDIT PROMINV
107,7
13,5
36,6
6,2
UKREXIM
OSCHAD
5,0
4,9
SBER
RUSSIA
RAIFF
3,6
6,1
24,0
21,9
3,4
UNICREDIT PROMINV
OSCHAD
Source: National bank of Ukraine [http://bank.gov.ua]; UAS as of 1 January 2015.
3
6,2
PRIVAT
UKREXIM UNICREDIT
RAIFF
PROMINV
PRIVAT
OSCHAD
DELTA
UKREXIM
14,2
12,3
RAIFF
UNICREDIT
2014 Balance Sheet
Gross loans book picked up by 46.7% YTD driven by UAH devaluation
and increased volume of new loans granted. In monetary terms, net
amount of increase in loans to customers (without effect of UAH
depreciation) during 2014 comprised UAH 8.3 bln (2013: UAH 2.1 bln)
Allowance for impairment losses for loans to customers grew
almost twice mainly due to situation with loans provided by the branches
in Donetsk, Lugansk and Crimean regions. As of 31.12.2014 their total
gross value comprised UAH 12.5 bln (or 13.3% of total gross loan portfolio)
and allowance - UAH 10.8 bln (incl. 100% allowance under loans granted
to Crimean customers). This led to increase of NPL ratio: as of 31.12.2014
and 2013, NPL constituted 17.9% and 10.8% of the total gross loan
portfolio, respectively; other than loans granted to the customers of the
Crimean branch – 7% and 11%, respectively. UAH devaluation was another
factor that influenced allowance for impairment losses for loans granted to
customers
Naftogaz remains the largest borrower of the Bank with 16% stake in the
total gross loan book as of 31.12.2014, but with tendency to decrease
caused mainly by UAH devaluation (2013: 23.7%)
Customer Accounts grew by 21.1% mainly due to UAH devaluation. As
of 31.12.2014 net loans-to-deposits ratio comprised 125.0% in
comparison with 112.4% as of beginning of 2014
Amounts of Eurobonds and Other borrowed funds increased by
131.3% mainly due to UAH devaluation. During 2014 net cash inflow
comprised UAH 3.0 bln
Despite loss-making activities in 2014, Total Equity was slightly
increased by 0.2% due to recapitalisation by the State of Ukraine.
Capitalization remains strong and well above the regulatory minimum
with CAR 18.57% and Tier 1 ratio 17.97% (24.69% and 23.15% as of
YE2013, respectively)
Source: Oschadbank Financial Statements, IFRS (consolidated).
4
124.31
YE 2013
(IFRS)
101.70
YTD, %
22.2
4.53
4.82
(5.9)
Due from Banks
8.02
7.65
4.9
Gross Loans. incl.
94.26
64.27
46.7
Corporate
89.31
59.71
49.6
Individuals
4.95
4.56
8.5
(24.02)
(12.09)
98.7
33.12
33.25
(0.4)
105.07
82.50
27.4
Due to Banks and NBU
22.18
24.08
(7.9)
Customer Accounts, incl.
56.21
46.41
21.1
Corporate
19.12
10.57
81.0
Individuals
37.09
35.84
3.5
24.59
10.63
131.3
Total Equity
19.24
19.20
0.2
CAR, %
18.57
24.69
NPLs/Gross Loans, %
17.9
10.8
7.1 pp
NPLs/Gross Loans, %
(excl. Crimea Loan Portf.)
7.3
10.7
(3.4) pp
(UAH Bln)
Total Assets
Cash and Balances
with NBU
Allowance for
impairment losses
Securities
Total Liabilities
Eurobonds and Other
borrowed funds
YE 2014
(IFRS)
(6.1) pp
2014 Profit and Loss Statement
Net interest income before provision slightly decreased by 3.5%
during 2014 and reached UAH 5.3 bln (2013: UAH 5.5 bln) causing
decrease of Net interest margin from 5.7% to 4.3%, which
nevertheless still remains strong
Provision for impairment losses on interest bearing assets
grew almost 4 times during 2014 mainly due to increase of provision
under loans granted by UAH 11.9 bln (2013: UAH 2.1 bln). This
material increase occurred due to the loans granted to the customers
of Crimean, Donetsk and Lugansk branches. UAH devaluation also
significantly influenced amount of provision
Net non-interest loss increased significantly in comparison with
2013 due to negative forex effect resulted from respective devaluation
of UAH against major world currencies during 2014
Operating expenses rose by 21.5% y-o-y to UAH 4.2 bln, due to
extraordinary expenses mainly caused by losses of the Bank’s assets
(cash, property and equipment) in Crimea and certain arrears of
Donetsk and Lugansk regions. As result of these changes cost-toincome ratio grew substantially to 111.9% during 2014 (2013:
50.9%). At the same time, after excluding extraordinary expenses and
negative forex effect this ratio would comprise 54.8%
Due to reasons described above, bank reported Net Loss of UAH
10.0 bln in 2014
Source: Oschadbank Financial Statements, IFRS (consolidated).
5
YE2014
(IFRS)
YE2013
(IFRS)
5.32
5.51
Provision for Impairment
Losses
(9.66)
(2.44)
296.4
Net non-interest (loss) /
income
(1.53)
1.34
(214.2)
Total Operating (loss) /
income
(5.88)
4.41
(233.1)
Operating Expenses
(4.24)
(3.49)
(UAH, bln)
Net Interest Income Before
Provisioning
YoY, %
(3.5)
21.5
Profit (Loss) Before Tax
(10.11)
0.93
(1192.5)
Net Profit / (Loss)
(10.02)
0.71
(1508.3)
4.34
5.69
111.9o
50.91
Net Interest Margin, %
Cost to Income, %
(1.4) pp
61.0 pp
Balance Sheet Composition 2012-2014
YE 2012
YE 2013
Funding Mix
Other
Eurobonds 1%
9%
IFIs, Subdebt
2%
Corporate
Customers
Account
14%
Due to
NBU
28%
Due to
Banks
2%
Retail
Customer
Accounts
44%
Eurobonds
12%
Assets Mix
6
Due to
NBU
25%
Due to
Banks
4%
Retail
Customer
Accounts
43%
Fixed
Assets
3%
Cash
5%
Fixed
Assets
4%
Cash
5%
Loans to
Customers
61%
Source: Oschadbank Financial Statements, IFRS (consolidated).
IFIs, Subdebt
2%
Other
1%
Eurobonds
18%
IFIs, Subdebt
7%
Due to
NBU
19%
Due to
Banks
2%
Corporate
Customer
Accounts
18%
UAH 82.5 Bln
Due from
Banks
18%
UAH 83.4 Bln
Other
1%
Corporate
Customer
Accounts
13%
UAH 65.7 Bln
Securities
12%
YE 2014
Due from
Banks
8%
Retail
Customer
Accounts
35%
UAH 105.1 Bln
Loans to
Customers
51%
Due fromEmbedded Other
Fixed Banks Derivative 1%
3%
Assets
6%
3%
Cash
4%
Securities
27%
Securities
33%
UAH 101.7 Bln
UAH 124.3 Bln
Loans to
Customers
56%
Loan Portfolio Analysis YE 2014
Net Loans by Currency
Gross Loans by Borrower Type
YE 2014
Net Loans by Remaining Maturity
YE 2014
UAH
67.3%
EUR
1.8%
Retail
5.2%
USD
30.9%
YE2014
5%
26%
YE2013
5% 8%
24%
23%
31%
14%
46%
18%
Corporate
94.8%
<1 Month
1–3 Months
3 Months–1 Year
1–5 Years
>5 Years
Gross Loans by Sector
NPL Overview
UAH Mln
10.8%
17,9%
10.7%
7.1%
3.6%
7.3%
153,30
8,03
4,02
2010
2011
2013
Write-offs of Interest Bearing Assets
NPLs
NPLs excluding Crimean Loan Portfolio
Source: Oschadbank Financial Statements, IFRS (consolidated).
7
23%
YE2013
25%
5%
23%
21%
10%
18%
7.3%
147,78
25,98
2012
YE2014
7%
18%
21%
9%
2014
Oil, Gas and Chemical Production
Energy
Food and Agri
Individuals
Construction and RE
Other
20%
Corporate Banking
• Oschadbank provides corporate banking products and services to
a variety of state-owned and private clients
Corporate Gross Loan Book
UAH Bln
• Corporate banking products include corporate lending, overdraft
facilities, revolving lines of credit, guarantees, promissory notes,
letters of credit, deposit accounts, foreign exchange, payment and
account services, internet client bank, cash collection services,
trade finance
89,3
• The Bank intends to expand products and services offered to its
clients in food and agri business, energy, retail, production of
natural resources such as mineral sands and clays, other
export-oriented sectors with growth potential, as well as to SMEs
54,4
Mining and
Metallurgy
5%
Trade
9%
Other
4%
Food & Agri
11%
2011
2012
2013
2014
Corporate Deposits and Curr. Accounts by Sector
YE2014
Engineering
8%
Oil & Gas
24%
59,7
44,1
2010
Corporate Gross Loans Breakdown by Sector
YE2014
56,8
Transport
Fin services
5%
8%
Food and Agri
6%
Construction and
RE
2%
Other
7%
Oil & Gas
10%
Trade
9%
Investing activities
17%
Construction & RE
22%
Energy
25%
Source: Oschadbank Financial Statements; IFRS (consolidated).
8
Media & Coms
3%
Energy
19%
Services
6%
Oschadbank and Naftogaz
Loans Extended to Naftogaz Since 2008
Government
UAH 29.1 billion
UAH12.8 billion
capital injections
UAH18.0 billion of
credit lines
YE 2009
IFRS
YE 2014
IFRS
Naftogaz Gross
Loans
29.1 bln
15.1 bln
(48.1)%
% of Equity
190.2%
78.5%
-
% of Gross Loan
Book
58.4%
16.0%
-
Reserves for
Naftogaz
1.8 bln
2.8 bln
+56.0%
% in Total Reserves
43.5%
11.6%
-
Naftogaz Net Loans
(after reserves)
27.3 bln
12.3 bln
(54.9%)
% of Net Loan Book
59.7%
17.5%
Change
NBU
Exposure Collateral
New Gov’t Strategy for Naftogaz in 2014–2015
Oschad’s Strategy for 2015
 Rights under commercial sales contracts
 Profitable non-deficient activity until 2017 and further, as well as gradual increase of
retail gas tariffs in accordance to IMF Memorandum
 In accordance with the Memorandum between
the IMF and the Government of Ukraine, the
MFU, and the NBU, the Bank has decided to
extend the final maturity date in respect of the
loans granted to National Joint Stock Company
“Naftogaz of Ukraine to 10 June 2015
 Gas in storage
 Government guarantees
Funding Structure
 Most loans are pledged to and funded by
NBU under refinancing facility with
matching terms
 In the second half of 2013 the matured
portion of the loans were repaid by cash
(UAH 250 mln) and state guaranteed
bonds (UAH 4.8 billion) with maturity in
Dec 2016
9
 State commitment to support Naftogaz with UAH29.7 bln in 2015 state budget for new
capital injections
 Planned re-organisation in two separate transportation and storage companies in order
to be in compliance with EU’s 3rd Energy Package.
 Attracting foreign investment into the main gas transportation system and upstream
assets and development licenses
 Encouraging international commodity traders to supply the Ukrainian gas market
 Naftogaz financial performance was weak in recent years given its mandate to distribute
public utilities to Ukrainian households with a significant discount, while the company’s
losses were compensated from Ukrainian budget. As per the updated IMF program the
company will cancel all discounts in 2015-2016, while budgeted capital injections from
the state (UAH 96 bln in 2015-2016) will allow the company to improve its core financial
metrics and restore its financial position
 Close dialogue with Naftogaz and full board level
involvement in all strategic discussions and
decisions
 Further focus on working with Naftogaz on non
risk banking products: increasing fee and
commission income through offering a range of
other services such as trade finance, cash
management, deposits, payment cards for
employees etc
Retail Banking
• Full range of retail products, including term deposits, current
accounts, personal loans, mortgage finance, auto loans, credit and
debit card services, money transfers, utility payments, pensions as
well as web and mobile-banking
Retail Gross Loan Portfolio Breakdown
YE2014
Collateralised
Consumer
Loans
34%
Other Secured
Loans
27%
• Bank serves over 4 million of individuals and has the largest
distribution network in the country. As of 31.12.2014 bank had 24
regional branches and 4 949 separate operational outlets within
Ukraine
Car Loans
9%
• Despite market-wide deposit outflow trend, during 2014 bank
managed to increase retail accounts by 3.3% YTD
Mortgages
30%
• Practically all of Retail Loans are secured and denominated
in UAH
Retail Accounts Dynamics
Retail Lending Dynamics (Gross Loan Portfolio)
UAH Bln
UAH Bln
5,0
35.9
37.1
4,9
29.5
25.2
19,5
2010
2011
2012
Source: Oschadbank Financial Statements; IFRS (consolidated).
10
4,6
4,6
2012
2013
4,5
2013
2014
2010
2011
2014
Financial Performance Trend 2010-2014 (Balance Sheet)
Loans to Deposits Ratio
Total Assets
%
UAH Bln
185
173
124.3
155
101.7
132
83.4
125
73.9
112
57.6
2010
2011
2012
2013
2014
2009
2010
Total Customer Accounts
Total Equity
UAH Bln
UAH Bln
2011
2012
Net Loans to Deposits
2013
2014
56,2
46,4
38,9
16,0
17,4
17,8
26.7%
25.1%
19,2
19,2
23.2%
17.97%
32,6
24,6
30.7%
2010
2011
2012
Source: Oschadbank Financial Statements; IFRS (consolidated).
11
2013
2014
2010
2011
Tier I Ratio (Basel I)
2012
2013
Book Value of Equity
2014
Financial Performance Trend 2010-2014 (P&L)
Net Interest Income
Net Fee And Commission Income
1
UAH Bln
UAH Bln
5,29
5,51
5.32
4,60
1.23
1,26
2013
2014
1,04
4,14
0,94
0,91
7.1%
6.8%
6.4%
5.7%
4.4%
2010
2011
2012
2013
2014
Net Interest Margin
2010
2011
2012
Net Interest Income
Profit After Tax
Cost/Income Ratio
UAH Mln
%
1 092
663
711
112.0
458
2010
2011
2012
2013
2014
38.2
44.0
48.0
50.9
2011
2012
2013
- 10 015
2010
Source: Oschadbank Financial Statements, IFRS (consolidated).
1. Net interest income before provision for impairment losses on interest bearing assets.
12
2014
Assets and Liabilities Maturity and Currency Profile 2014
Financial Assets vs. Financial Liabilities by Maturity
Financial Assets vs. Financial Liabilities by Currency
UAH Bln
32,0
32,4
30,8
28,0
26,8
Financial Assets 1
19,8
19,1
72%
2%
26%
15,2
14,4
Financial Liabilities 2
2,6
0.1
Up to 1 Month
1 Month to
3 Months
3 Months to
1 Year
Financial Assets
1 Year to
5 Years
Over 5 Years
0.0
56%
6%
38%
Maturity
Undefined
Financial Liabilities
UAH
USD
Other
Liquidity/Maturity Gap
UAH Bln
20,33
17,26
16,81
11,12
3,95
3,08
0,11
(0,87)
(8,75)
(18,07)
Up to 1 Month
(8,94)
(17,69)
1 Month to 3 Months
Liquidity Gap
3 Months to 1 Year
1 Year to 5 Years
Over 5 Years
Cumulative Liquidity Gap based on Expected Withdrawal Dates for Current Customer Accounts
Maturity Undefined
Source: 2014 Oschadbank Financial Statements, IFRS (consolidated).
1 Financial assets comprise of cash and balances with the NBU, due from banks, loans to customers, investments available for sale, investments held to maturity and other financial assets
2 Financial liabilities comprise of due to banks, customer accounts, Eurobonds issued, other borrowed funds, other financial liabilities and subordinated debt
13
Cooperation with International Financial Institutions
Starting from 2013 Oschadbank prioritises cooperation with international financial organisations that run programmes in
Ukraine
European Investment Bank
 SME Support Programme
In December 2013 Oschadbank and European Investment Bank concluded a longterm finance contract that stipulates EUR 220 mln credit line with 10-year maximum
tenors for disbursements. As of 01.01.2015 the disbursed amount equaled to EUR 198
mln
Trade Support Programme
Oschadbank was selected by EIB among intermediaries under the new trade support
programme in the aggregate amount of up to EUR 400 mln, aiming at supporting
Ukrainian importers and exporters. The parties started negotiations on the relevant
financial contract
Potentially interesting areas of cooperation with other IFIs:
14
SME Support
Trade Facilitation Programme
Energy Efficiency Programme
Global Trade Finance Programme
Annexes
•
•
•
•
•
15
Oschadbank’s Management Board
(page 16)
Oschadbank’s Branch Network
(page 17)
Latest Technological Development
(page 18)
Relationship with the Government
(page 19)
Risk Management
(page 20)
Oschadbank’s Management Board
Mr. Andriy Pyshnyy
Chairman of the Management Board
Directly supervises Treasury, Legal Dpt., Banking Security Dpt.,Risk Management
and Public Relations; Chairs ACLO;
14 years in banking (Oschad, Ukrexim)
Mr. Grygorii Borodin
First Deputy Chairman
Areas of responsibility: HR, Procurement, Financial Monitoring;
Chairs Tender Com.
20 years with Oschad
Ms. Iryna Zemtsova
Deputy Chairman
Areas of responsibility: Corporate Business, Structured
Trade Finance; Chairs CC
28 years in banking
(15 years with Oschad)
Mr. Anton Tyutyun
Deputy Chairman
Areas of responsibility: Retail,
Marketing, E-commerce;
Chairs Retail CC and Tariff and Product Com
14 years in banking (UniCredit, Oschad)
16
Mr. Anatolii Barsukov
Deputy Chairman
Areas of responsibility: Finance Dpt., Accounting,
Internal Control; Chairs Financial Com
20 years in banking
(19 years with Oschad)
Mr. Yevgenii Drachko-Yermolenko
Deputy Chairman
Mr. Volodymyr Lytvyn
Deputy Chairman
Areas of responsibility: Int. affairs, External
Financing, Custody Business
12 years in banking
(World Bank, Societe Generale, EBRD)
Mr. Andriy Stetsevych
Deputy Chairman
Areas of responsibility: IT, Back-Office, Currency Control,
Cash and Valuables Transportation;
Chairs Operational Risks and IT Com
Areas of responsibility: Problem Assets, Collection
20 years in banking (Privat, Oschad)
16 years in banking
Oschadbank’s Branch Network
• Largest branch network in the country with 24 regional branches and 4 949 outlets1
• Current focus on network efficiency increase, optimisation and comprehensive modernization
Rivne
(135)
Lutsk
(117)
Chernihiv
(194)
Sumy
(145)
Zhitomyr
(84)
Kiyv
(549)
Lviv
(346)
Ternopil
Ivano(64)
Frankivsk
(125)
Uzhgorod
(155)
Poltava
(201)
Khmelnytsky
(124)
Kharkiv
(287)
Lugansk
(224)
Cherkassy
(266)
Vinnytsa
(161)
Kirovograd
(119)
Chernivtsi
(157)
Odesa
(255)
Dnepropetrovsk
(317)
Donetsk
(485)
Mykolaiv
(181)
Zaporizhia
(175)
Kherson
(83)
>300 branches
200–300 branches
100–200 branches
<100 branches
Simferopol*
* Source: According to NBU’s Resolution # 260 Oschadbank has terminated its activity in Crimea
According to NBU’s Resolution #466 Oschadbank has temporary stopped its activity on the territories uncontrolled by the Ukrainian government in the Donetsk and Lugansk Regions
1. Distribution network split by region on the map as of 1 January 2015.
17
Latest Technological Developments
Branch Network
 Aiming to simplify and optimise the management and control over the bank’s branch
network and to implement unified corporate standards and processes as well as to
improve cost efficiency, the Bank has completed two-year reorganisation of sub-branches
into outlets (units without own balance sheet)
 Comprehensive modernization of bank’s branches is on track (“new type” branches )
Alternative Sales Channels
 24/7 customer support Call-centre up and running
 Trade POS-terminal network substantially widened with the best growth rate in this
segment among the banks in Ukraine
 Renewed corporate website put into use
 New Web-banking and Mobile-banking for Retail customers launched
IT and Technology Development Remain on Track
 Switch of all regional branches to the single core banking system completed
 High-powered processing center on WAY4 base successfully launched
 One of the first in Ukraine implemented contactless payment technologies Visa payWave
and MasterCard payPass
 A new advanced Centralised storage facility based on IBM BDW model is
being implemented
 Further developing and integration a broad range of up-to-date internal software
in progress
18
Relationship with the Government
100% State owned with full Government support
Bank operates commercially, on an arm’s-length basis, with the Government
Full Government commitment shown through capital injections, funding from the NBU, and engagement of
Oschadbank in mutually attractive and beneficial programmes
 The state of Ukraine exercises its right as a sole shareholder through Supervisory Council. According to the
Clause 32 of the Articles of Association approved by the Government, Supervisory Council may not intervene
in operating activity of the Bank
 According to the Clause 5 of the Law of Ukraine on Banks and Banking Activity, government authorities are
prohibited from influencing the Bank’s management in any way
 The Government provides capital injections for Oschadbank to enable business expansion and maintain high
capital adequacy. A new injection of UAH 11.6 billion was made by the Government in December 2014.
 Bank maintains strong cooperation with state-owned and strategically important entities in Ukraine, however
exposure to the state-related sector keeps on decreasing from 71.3% in 2010 and 50.6% in 2011 to 37.1% in
2013 and 33.4% in 2014 despite the amendment to “state exposure” definition (threshold of Government’s
stake for an entity to qualify as “state-related” lowered from 50% to 20%)
 Oschadbank is participating in a number of nationwide state programmes
– Bank acts as a financial agent for the State in cash settlement for the Pension Fund and other social
payments
– Performs operations with accounts of participants of the wholesale electricity market, natural gas suppliers,
state transportation and communication companies, serves Ukrposhta (Ukraine state post company)
19
Risk Management
 Risk management policies are approved by the
Management Board, and implemented by ALCO, Credit
Committee, Retail Credit Committee and Operational
Risks Committee
Supervisory Council
(5 Members Appointed
by Parliament,
5 Members by President,
5 Members
by Cabinet of Ministers)
Internal
Audit
ALCO
Corporate,
Retail
Banking
and
Treasury
20
 The Bank’s risk management policies are aimed to
identify, analyse and manage risks, as well as to set risk
limits and monitor them
Management Board
Credit
Committee
 ALCO is a corporate operational body managing the
assets, liabilities and market risks
Retail
Credit
Committee
Operational
Risks
Committee
 Credit Committee and Retail Credit Committee carry
out management of assets, optimization of credit risks,
fulfillment of decisions taken on risky operations
including credit risks, and their execution control
 ORC manages operational risks, aiming at their
minimization, implementation of relevant limits,
internal rules and procedures
 Decisions beyond committees’ authority are subject to
the Management Board approval
Legal and
Compliance,
Accounting
Risk
Management
Department
Security,
NPL Dpt.
IT and
Operations
 Risk Management Department is the operational unit
assisting ALCO on the implementation of its functions
and provides independent opinions to the Credit
Committees and ORC
Contact Details
Public Joint Stock Company “State Savings Bank of Ukraine”
12-G Hospitalna Street, Kyiv, 01001, Ukraine
Tel: +380 44 247 8540
Fax: +380 44 247 8537
E-mail: iref@oschadbank.ua
http://www.oschadnybank.com/en/about/
Oleksandr Buglak
Head of External Financing
Tel: +38 044 249 3103
E-mail: abuglak@oschadbank.ua
Andrii Garbar, ACCA
Head of International Financial Markets Unit
External Financing
Tel: +38 044 249 3126
E-mail: GarbarAM@oschadbank.ua
Oksana Markuta
Head of Funding Support Unit
External Financing
Tel: +38 044 249 3126
E-mail: MarkutaOP@oschadbank.ua
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This presentation has been prepared by Public Joint Stock Company “State Savings Bank of Ukraine” (the “Company”).
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This communication is directed solely at (I) persons outside the United Kingdom or (II) persons with professional experience in matters relating to investments falling within article 19(5) of the Financial Services
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This presentation contains forward-looking statements. The words "believe", "expect", "anticipate", "intend", "plan“, “target”, “aim”, “will”, “may”, “would”, “could” and similar expressions identify forward-looking
statements. All statements other than statements of historical facts included in this presentation including, without limitation, those regarding the Company's financial position, business strategy, plans and
objectives of management for future operations (including development plans and objectives related to the Company's products), are forward-looking statements. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performances or achievements
expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the
environment in which the Company will operate in the future. Furthermore, certain forward-looking statements are based on assumptions or future events which may not prove to be accurate. The forward-looking
statements in this presentation speak only as of the date of this presentation.
This presentation contains market share data based on internal management estimates (referred to herein as “Management Estimates of Market Share Data”) as no reliable market share data regarding the
consumer finance sector is currently available from third party sources. Public information varies on definitions of segmentation and the Company may define certain product segments differently than its
competitors, which may result in a different interpretation of the same information by different market participants. If a third party were to evaluate the market share data for the consumer finance sector in any
jurisdiction in which the Company operates it may result in a different conclusion to the Management Estimates of Market Share Data presented by management herein.
No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions
contained herein.
The information in this presentation has not been independently verified. Information other than indicative terms (including market data and statistical information) has been obtained from various sources. All
projections, valuations and statistical analyses are provided to assist the recipient in the evaluation of matters described herein. They may be based on subjective assessments and assumptions and may use one
among alternative methodologies that produce different results and to the extent they are based on historical information, they should not be relied upon as an accurate prediction of future performance and the
Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with
regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Neither the Company, nor any of its agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this
presentation. None of the Company or any of its affiliates or representatives, their respective advisers, connected persons or any other person accepts any liability whatsoever for any loss howsoever arising,
directly or indirectly, from this presentation or its contents. The information contained herein is subject to change without notice.
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