PIVDENNYI Bank's history (2007-2010)
2006
Upgrade of ratings reflects positive Bank's credit rates and continuous development of its regional client base.
Besides, ratings are supported by a conservative reserves policy, acceptable level of profitability and limited risks for trade operations of the Bank.
In accordance with the chosen development plan, in 2006 Pivdennyi Bank opened new outlet in Odessa at Ekaterinenskaya Street.
Convenient location, European standard facilities and customer service area, high level of service, highly-qualified staff, customer-tailored approach and efficiency all this was much appreciated by our customers!
Pivdennyi Bank was the first in Odessa to install the deposit ATM complex. This self-service complex was the first in Odessa to not only dispense cash but to accept it by transferring money to the client's card account on-line. For such ATM deposit transaction Pivdennyi Bank does not charge a commission.
In March 2006, independent rating agency "Credit-Rating" assigned Pivdennyi Bank a long-term credit rating "uaBBB+" on the Ukrainian national scale. The rating level is determined by the Bank's systemic importance for the Ukrainian economy as one of the largest banks with large volumes of assets and deposits.
This rating favorably compares Pivdennyi Bank with other banks in the banking system of Ukraine. The rating is an investment and has a stable outlook.
In July 2006, International rating agency Moody's Investors Services assigned Pivdennyi Bank deposit rating in foreign currency B2/NP and E+ financial stability rating. Rating outlook was "Stable"!
The ratings assigned reflect a very strong regional market position for corporate customers and individuals, a strategy of diversification of banking services for individuals, a positive history of organic growth and high profitability, excellent financial base and high assets quality.
The ratings were reasoned by the development of the Bank's corporate governance and risks management methodology.
Rating received by Moody's Investors Service is the next step in achieving the following strategic goals of the Bank:
- to increase the level of credibility to the Bank by clients, potential investors, international financial institutions and banks;
- to receive an independent evaluation of the Bank's business, its financial standing and development prospects;
- borrowings opportunity from the international capital markets.
2005
In 2005, NSR Corporation having more than 100 years of experience in business and being the leading supplier of banking, trade and information technology solutions as well as the world leader in ATM production and supply honored Pivdenny Bank with a diploma for a long-term fruitful cooperation in nomination "The brightest client". In March 2005, Ukrainian Rating Agency and Publishing house "Galitskie Kontrakty", according to the results of "Gvardiya" competition, recognized Vadim V. Morokhovskiy, Chairman of the Management Board of Pivdenny bank, the most successful top manager of the Ukrainian economy and awarded a diploma "Professional recognition 2005". In April same year new branch in Sevastopol was opened. Efficient work on expansion of the acquiring network, partnership programs, joint projects, new card products and development of additional services under the new strategy of cross-sales have greatly increased the number of payment cards issued by the Bank and improved profitability of this kind of business.
Positive profitability dynamics of the Bank encouraged shareholders to make a decision on dividends reinvestment into the equity, to increase the latter up to UAH 161 500 000. Active participation of the Bank in the International Forum of Investment and innovation, annually conducted in Odessa, facilitated the establishment of new business contacts and new business partners.
The forum is traditionally attended by the Chairmen of the banks, Heads of international investment funds and companies, financial industrial groups and corporations, legal, consulting and auditing firms, interested in attracting investment to the top sectors of the region economy. In July 2005, the Bank won the competition organized by the Ministry of Finance of Ukraine for the selection of banks having the exclusive right to service payroll projects for state-financed organizations, became an authorized bank for the payment of state social aid. The fact itself that the financial results, development strategy and business reputation of the Bank comply with all the stringent requirements of the Ministry of Finance of Ukraine is an indirect proof of the stable position of the Bank in the Ukrainian market. Pivdennyi Bank was among the leaders of the rating "TOP-100. Best companies of the financial sector". As defining selection criteria, the tender commission noted the Bank's progress over the year, developed distribution network throughout Ukraine, implementation of new products and services, high level of service, professional employees, customer-focused approach and high efficiency.
High level of trust to the Bank was also noted – Pivdenny Bank is one of the few banks in Ukraine with deposit portfolio exceeding UAH 1 bln. In October 2005, net consolidated assets of the Bank exceeded UAH 2 bln. Vadim Morokhovskiy, the only one of all the Chairmen of the Board of commercial banks was among "TOP-100" of the most influential people of Ukraine according to the annual rating of "Korrespondent" magazine. The magazine presents its rating of 100 most influential people of Ukraine for the third consecutive year.
When making a rating, experts took into account the popularity of applicants and their influence on life of the country, success and size of companies managed by them. In December 2005, following the rating results of the Ukrainian trademarks effectiveness "Gvardiya brendov", Pivdennyi Bank was recognized one of the best brands in Ukraine. In December 2005 the Bank won the next contest organized by the Pension Fund of Ukraine on selection of banks authorized to open and maintain pension accounts and social aid accounts.
Thus, the Bank was authorized to maintain pension accounts and accounts of socially unprotected citizens in Odessa region, Kiev, Yalta, Sevastopol, Simferopol, Kharkov, Kherson, Dnepropetrovsk, Krivoy Rog, Nikolayev, Zaporozhye, Alushta, Alupka, Novoandreevka, Pavlograd, Khartsyzsk, Vishnevoe, Lugansk and Lvov. In December the Shareholders' meeting made a decision to increase the Bank's charter capital to UAH 200 mln. by issuing additional stock. 12 years is a milestone for a banking business in Ukraine. Successfully overcoming the difficulties and hardships of the Ukrainian banking system development and having received the national and international recognition, Pivdennyi Bank continues to grow while expanding the product range offered to its corporate and individual customers and enhancing its distribution network. Flexible management policy, clear development strategy and high level of professionalism of the entire team enabled Pivdennyi to occupy a respectable place among the largest credit institutions in Ukraine. Reliability and impeccable reputation of the Bank as well as the high level of efficiency and professionalism of our work laid the foundation for trust and reliability of our partners and clients. This is our greatest asset which we highly value!
2004
Performance analysis proved that fiscal year 2004 was the best in the development history of the Bank. Total assets as of 01.01.2005 amounted to UAH 1.6 bln., equity exceeded UAH 165 mln., customer accounts exceeded UAH 1 bln.
In 2004, Pivdennyi Bank was selected by the Expert Commission of the International Organization of the Financial Action Task Force on Money Laundering (FATF) to examine financial system of Ukraine. It resulted in exclusion Ukraine from the FATF's "black list" at the end of February. It is a high international appraisal of Ukraine and we are pleased to be directly relevant to it.
In 2004, Pivdennyi Bank was recognized in a number of nominations like Brand of the Year, Golden Trademark, European quality and Best Enterprise of 2004, and Chairman of the Management Board Vadim V. Morokhovskiy was recognized the Best employer of the year.
Third for the last eight years the deepest economic crisis at the end of 2004 once again demonstrated reliability and stability of the Bank. From now on economic stability, reliability and confidence in the future of the Bank's customers – is a good tradition and principal.
Pivdenny Bank is the largest and the most reliable Bank in the South of Ukraine according to all indicators. One of the largest private banks in Ukraine. Market share over 30% in the South of Ukraine. More than 1300 of highly professional employees (1302 employees, of them in the Head office – 713 as of 01.01.2005). More than 70 branches and outlets in all business centers of Ukraine. The Bank is serving more than 70 000 customers (12 356 corporates and 57 806 individuals as of 01.01.2005).
2003
We are 10 years old
In the beginning of 2003, total net assets of the Bank exceeded UAH one billion. Assets growth, development of new financial solutions, offering of convenient and profitable banking products made it possible for Pivdennyi to strengthen its position among the largest private banks of Ukraine.
For personal contribution to the development of the Ukrainian economy and advancement of integration processes Pivdennyi was awarded in the international competition "Zolotoy Markuriy", established by the International Corporation for Social Interaction "European Business Assembly", and won the International competition "Golden trademarks 2003".
In accordance with the branch network development plan, Pivdennyi Bank opened 10 outlets in the regions of Ukraine.
Reputation of the Bank as a reliable business partner allows the Bank to service customers' transactions in any place of the world, to participate in financing of international projects and feel confident in western financial markets.
Across the centuries-old history of Ukraine it is a little, on scale of human life it is a milestone, while for the Bank which started from a scratch and over 10 years has developed into one of the largest and most respected banking institutions of Ukraine it is a serious distance allowing not only to sum up the results achieved but to say with certainty that this is just the beginning of a long and glorious history of Pivdennyi Bank – convenient and available to anyone regardless of welfare, legal status or location.
2002
In the first half of 2002, the Bank strengthens its position and follows up on its success in the financial market, sets new goals, meets new challenges. According to the rating issued by the Association of Ukrainian banks, Pivdennyi Bank was the 12th in terms of net assets, the 11th in terms of credit and investment portfolio and the 7th by corporate deposits.
To achieve strategic goals budgeted for 2002, the policy for global financial security of the Bank is toughened, risk management systems are reviewed, interregional flows management is improved, corporate and retail business is divided, the product range is considerably expanded as well as the prices decreased.
Implementation of such policies resulted in:
- European level of service
- Competitive, on a national scale, offers
- The highest level of reliability
Branches in Izmail and Simferopol started to build its client base; credit and investment portfolio of the Bank has increased by more than 2 times and exceeds UAH 680 mln.
The Bank is noticed outside Ukraine – representatives of major European banks are frequent guests to the head office of the Bank. Coming with cooperation proposals they leave with ready-to-start international projects.
Our team numbers 850 highly skilled professionals.
2001
Owing to effective teamwork of previous years Pivdennyi has moved to a new level of its development in 2001. Doings, events and results achieved by the Bank are plain evidence of this.
The Bank was ranked the 14th in terms of assets by the Association of Ukrainian banks. Credit and investment portfolio of the Bank continues to grow; share of long-term loans has considerably increased.
Four new branches were opened – in Yalta, Zaporozhie, Nikolayev and Kherson. By the end of 2001, the share of assets of the branches amounted to 33% of the total assets of the Bank.
One of the first banks of Ukraine Pivdennyi acted as the underwriter in securities transactions for its customers. Pivdennyi became an associated member of VISA International. The total number of payment cards issued by the Bank has increased by 4 times over the year.
New e-bank system was introduced to the Bank. It offers the customers a remote access to their accounts via Internet, telephone and mobile connection. Headcount of the Bank exceeds 650 people.
2000
In 2000 the management structure of Pivdenny underwent qualitative changes. Considering the requirements of the clients Pivdennyi Bank along with the traditional areas of business develops new products. Loan portfolio of the Bank has increased by more than 3.5 times over the year. Monthly volume of provided loans amounts to UAH 300 mln.
Distribution network continues to grow; branch in Dnepropetrovsk started its operations.
By the end of 2000, branches of the Bank acquired 20% of its customer base and the volume of loans granted by them constituted 40% of the total loan portfolio.
As an active participant of the Ukrainian stock market Pivdennyi became a member of the Council of the First Stock Trade System, the largest Stock Exchange in Ukraine.
First among commercial banks of Ukraine Pivdennyi issues its own bonds.
Important indicator is that owing to an impeccable reputation of the Bank and convenient terms of repayment three series of first issues were completely placed in less than a week. Following the strategic development plan the Bank actively develops its retail business, balances on private accounts have increased by 8 times over a year; headcount of the bank exceeds 550 employees.
1999
In 1999, the Bank did not only sustain the economic crisis with dignity but also considerably strengthened its position in the financial market.
In accordance with the criteria of the National bank of Ukraine, Pivdennyi Bank was assigned to the first group of financially stable banks and held a firm position among the top 20 banks of Ukraine.
Work of the Bank was truly appreciated by its clients. As a result, the total volume of borrowed funds for the year increased by 5 times, including the turnover of corporate deposits by 4 times, deposits of individuals by 3 times, customers' current accounts – by 6 times. Efficient growth of the Bank necessitated the development of branch network in other regions of Ukraine. Branches in Kiev and Krivoy Rog started its operations.
Over the year loan portfolio of the Bank has increased by 3 times, turnover of bills of exchange transactions by 30 times.
To increase the efficiency of currency exchange and stock market transactions Reuters-Dealing system was put into operation. The Bank exchanged telecommunication keys with more than 200 banks all over the world.
At the end of the year the Shareholders' Meeting elected new Chairman of the Board whose candidacy was approved by the National Bank of Ukraine. Young, energetic but already experienced in banking businessman Vadim V. Morokhovskiy introduced many innovations to the Bank.
1998
In 1998, in the Russian economy and, as a consequence in Ukraine, broke out a deep financial crisis.
Many companies including banks went bankrupt. However, Pivdennyi Bank held out.
Based on a thorough analysis early in the year we took a decisive action to stop operations with government bonds and to change the investment structure to increase the volume of lending transactions and those with bills of exchange. The Bank started to issue its own bills of exchange, acquired bills of exchange of other banks and companies and offered its clients note-backed lending. Interest income amounted to 50% of total income. Around 98% of total loan portfolio constituted loans up to one year term.
Thus, our clients did not suffer during crisis and performance of the Bank has improved.
In July 1998, the new building of the Bank central offices in historical centre of Odessa – Sabanskiy Lane was presented. Distinctive feature of the building is a combination of the restored 19-th century building exterior, destroyed during the World War II, combined with modern interior, autonomous engineering and technical systems and up-to-date banking facilities.
End of the year was marked for the Bank by the issue of its own payment cards in the International payment system EUROPAY INTERNATIONAL and by the start of cooperation with the international auditing firm PriceWaterhouseCoopers . Pivdennyi's great pride is its employees the number of which exceeds 250 people.
PIVDENNYI Bank's history (1993-1997)
