German Commerzbank subsidiary, announced a new purchase, which confirms the intention of the Commerzbank stay in Ukraine.
Bank Forum, the Ukrainian "daughter" of the German Commerzbank, has announced its intention to acquire a retail network of a Ukrainian financial institutions. It is said the company Dragon Capital, a text of which has LIGABusinessInform.
According to Dragon Capital, Chairman of the Forum said that the bank has good liquidity, despite the general lack of liquidity in the banking system, which allows the bank to lend to both legal entities and individuals.
Dragon Capital analyst Anastasia Tuyukova notes that this news confirms its intention to expand the Commerzbank business in Ukraine, despite the recent decision by the German group to leave the non-core markets.
Recall, the bank has suffered significant losses Forum as a result of the crisis in 2008-09. But out on the net profit in the third quarter of 2011, experts predict that next year the bank will come to a stable profitable activity, but the pace of improvements will be still depend on the stabilization in global markets and growth of the Ukrainian economy.
Bank Forum is working on the Ukrainian market since 1994 and is one of the largest banks by the NBU classification. The main shareholder of the Bank Service in 94.52% of the shares is Commerzbank Auslandsbanken Holding AG. As of May 1, 2011 the authorized capital of the bank amounted to 5.9 billion UAH.