MIRA INFORM
REPORT
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Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
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Name : |
Bank Kontrakt |
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Registered Office : |
Ul.
Vozdvizhenskaya 58, Kiev, 04071 |
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Country : |
Ukraine |
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Year of Establishments: |
1993 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
Subject is engaged in banking services |
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No. of Employees : |
Not available |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Ukraine |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
ukraine ECONOMIC OVERVIEW
After Russia,
the Ukrainian republic was the most important economic component of the former
Soviet Union, producing about four times the output of the next-ranking
republic. Its fertile black soil generated more than one-fourth of Soviet
agricultural output, and its farms provided substantial quantities of meat,
milk, grain, and vegetables to other republics. Likewise, its diversified heavy
industry supplied the unique equipment (for example, large diameter pipes) and
raw materials to industrial and mining sites (vertical drilling apparatus) in
other regions of the former USSR. Shortly after independence in August 1991,
the Ukrainian Government liberalized most prices and erected a legal framework
for privatization, but widespread resistance to reform within the government
and the legislature soon stalled reform efforts and led to some backtracking.
Output by 1999 had fallen to less than 40% of the 1991 level. Ukraine's
dependence on Russia for energy supplies and the lack of significant structural
reform have made the Ukrainian economy vulnerable to external shocks. Ukraine
depends on imports to meet about three-fourths of its annual oil and natural gas
requirements and 100% of its nuclear fuel needs. After a two-week dispute that
saw gas supplies cutoff to Europe, Ukraine agreed to 10-year gas supply and
transit contracts with Russia in January 2009 that brought gas prices to
"world" levels. The strict terms of the contracts have further
hobbled Ukraine's cash-strapped state gas company, Naftohaz. Outside
institutions - particularly the IMF - have encouraged Ukraine to quicken the
pace and scope of reforms to foster economic growth. Ukrainian Government officials
eliminated most tax and customs privileges in a March 2005 budget law, bringing
more economic activity out of Ukraine's large shadow economy, but more
improvements are needed, including fighting corruption, developing capital
markets, and improving the legislative framework. Ukraine's economy was buoyant
despite political turmoil between the prime minister and president until
mid-2008. Real GDP growth exceeded 7% in 2006-07, fueled by high global prices
for steel - Ukraine's top export - and by strong domestic consumption, spurred
by rising pensions and wages. A drop in steel prices and Ukraine's exposure to
the global financial crisis due to aggressive foreign borrowing lowered growth
in 2008. Ukraine reached an agreement with the IMF for a $16.4 billion Stand-By
Arrangement in November 2008 to deal with the economic crisis, but the program
quickly stalled due to the Ukrainian Government's lack of progress in
implementing reforms. The economy contracted nearly 15% in 2009, among the
worst economic performances in the world. In April 2010, Ukraine negotiated a
price discount on Russian gas imports in exchange for extending Russia's lease
on its naval base in Crimea. In August 2010, Ukraine, under the YANUKOVYCH
Administration, reached a new agreement with the IMF for a $15.1 billion
Stand-By Agreement. Economic growth resumed in 2010 and 2011, buoyed by
exports. After initial disbursements, the IMF program stalled in early 2011 due
to the Ukrainian Government's lack of progress in implementing key gas sector
reforms, namely gas tariff increases. Economic growth slowed in the second half
of 2012 with Ukraine finishing the year in technical recession following two
consecutive quarters of negative growth.
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Source : CIA |
Company
name & address
Kontrakt Bank
Ul.
Vozdvizhenskaya 58
Kiev, 04071
Ukraine
Tel: 380 (44) 537 62 88
Fax: 380 (44) 537 62 99
Web: www.kontrakt.ua
Synthesis
Employees: NA
Company Type: Private Independent
Incorporation
Date: 1993
Auditor: Bliskor
Audit Firm
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2011
Reporting
Currency: Ukranian Hryvnia
Annual Sales: NA
Total Assets: 80.5
Business
Description
Subject is engaged in banking services
Industry
Industry
Banking
ANZSIC 2006: 6221 - Banking
ISIC Rev 4: 6419 - Other monetary intermediation
NACE Rev 2: 6419 - Other monetary intermediation
NAICS 2012: 522110 - Commercial Banking
UK SIC 2007: 64191 - Banks
US SIC 1987: 6021 - National Commercial Banks
Key
Executives
|
Name |
Title |
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A V Lavrinchuk |
Chief Accountant |
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Katerina Gorbach |
Head of Client Policy |
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Sergey Alekseenko |
Deputy Chairman |
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Alla Komisarenko |
Chairman |
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Pavel Krapivin |
Senior Deputy Chairman |
1 - Profit &
Loss Item Exchange Rate: USD 1 = UAH 7.985162
2 - Balance Sheet
Item Exchange Rate: USD 1 = UAH 8.01
Corporate
Overview
Location
Ul.
Vozdvizhenskaya 58
Kiev, 04071
Ukraine
Tel: 380 (44) 537 62 88
Fax: 380 (44) 537 62 99
Web: www.kontrakt.ua
Sales UAH(mil): NA
Assets UAH(mil): 645.0
Employees: NA
Fiscal Year End: 31-Dec-2011
Industry: Commercial
Banks
Incorporation
Date: 1993
Company Type: Private
Independent
Quoted Status: Not
Quoted
Deputy Chairman: Sergey Alekseenko
Industry Codes
ANZSIC 2006
Codes:
6221 - Banking
ISIC Rev 4 Codes:
6419 - Other
monetary intermediation
NACE Rev 2 Codes:
6419 - Other
monetary intermediation
NAICS 2012 Codes:
522110 - Commercial
Banking
US SIC 1987:
6021 - National
Commercial Banks
UK SIC 2007:
64191 - Banks
Business Description
Subject is engaged in banking services
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Executive report
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Board
of Directors |
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Deputy Chairman |
Chairman |
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Chairman |
Chairman |
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Senior Deputy Chairman |
Chairman |
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Executives |
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Chief Accountant |
Finance Executive |
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Head of Client Policy |
Customer Service Executive |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.23 |
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UK Pound |
1 |
Rs.100.01 |
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Euro |
1 |
Rs.85.93 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.