Ukrgasbank

JSB Ukrgasbank is the legal successor of JSB Ukrgasbank, CJSC Intergasbank and JSC Hadzhibeybank. It was registered by the National Bank of Ukraine on July 21, 1993 (registration №183).[2][3]

Ukrgasbank is included in the list of state-owned objects of strategic importance for Ukraine's economy and security. This decision was approved by Resolution № 83 of the Cabinet of Ministers of Ukraine of March 4, 2015.[4]

On June 25, 2015, the insolvent bank Kyiv was merged with Ukrgasbank, which led to an increase in assets and liabilities.[5] Ukrgasbank earned a profit of ₴260 million in 2015.[6] According to the results of the first half of 2016, the bank entered the top five largest banks in Ukraine in terms of assets (₴51.4 billion).[7] For six months of 2016, Ukrgasbank's net profit reached ₴91.299 million.[8]

Zaporizhzhia new airport supported by Ukrgasbank loan

On May 31, 2016, Ukrgasbank repaid long-term refinancing loans and stabilization loans received from the National Bank of Ukraine in 2008-2009 during the financial crisis.[9]

On June 30, 2016, the rating agency Expert-Rating upgraded the credit rating of Ukrgasbank on a national scale to the level of uaAA +[10] characterized as the high creditworthiness.

On March 22, 2019, the international rating agency Fitch Ratings assigned Ukrgasbank a long-term rating in foreign and national currency at the level of "B-" with a forecast as "stable".[11] The short-term rating in foreign and national currency is confirmed by Fitch Ratings at the level of "B" and the national long-term rating is set at the level of "AA (ukr)".

On September 24, 2019, Fitch Ratings upgraded Ukrgasbank's long-term foreign and domestic currency rating from “B-” to “B”, and changed its forecast from “stable” to “positive”. The rating corresponds to the current sovereign credit rating of Ukraine. The short-term rating in foreign currency is confirmed at the level of "B" and the national long-term rating is set at the level of "AA (ukr)". The support rating was upgraded from "5" to "4".[12]

In 2019, JSB Ukrgasbank, following the green-banking strategy, supported the construction of a new energy-efficient terminal at the international airport of Zaporizhia. The bank issued another tranche of $3 million for the construction.[13]

In December 2019, The European Bank for Reconstruction and Development increased twofold trade financing limit for Ukrgasbank to $80 million under the Trade Facilitation Program.[14]

In 2019 Ukrgasbank together with PrivatBank were the only state-owned banks which successfully passed the Natinal Bank of Ukraine stress test.[15]

The Chairman of the Board is Kyrylo Shevchenko. The First Deputy Chairman of the Board is Oleksandr Dubrovin. The First Deputy Chairman of the Management Board is Andriy Kravets.

In 2016, Ukrgasbank chose a strategy for its development as an ECO-Bank to increase energy efficiency and energy independence of Ukraine, as well as to fully support projects related to the efficient use of energy resources and reducing the environmental impact.[16][17] On May 17, 2016, the International Finance Corporation (IFC) and Ukrgasbank signed an agreement to finance companies in the sector of renewable and energy-saving technologies to help unleash the country's green economic potential.[18]

• List of banks in Ukraine

• Official website (in English)