Pravex Bank Project Overview and Recent Developments

Pravex Bank is a relatively new player in the banking industry, founded in 2018. It's a digital bank that operates entirely online, which means you can manage your accounts and make transactions from the comfort of your own home.

One of the key features of Pravex Bank is its innovative approach to banking. It offers a range of services, including current accounts, savings accounts, and credit cards.

Pravex Bank is a private commercial bank based in Kyiv, Ukraine. It was licensed by the National Bank of Ukraine in 1992.

Pravex Bank is a public joint-stock company in the banking industry, founded in 1992. Its headquarters is located in Kyiv, Ukraine.

The bank is owned by Intesa Sanpaolo and has a strong presence in Ukraine. Silvio Pedrazzi is the Chairman of the Supervisory Board, and Sergii Naumov is the Chairman of the Management Board.

Pravex Bank has successfully managed to be among the top banks in Ukraine, despite being privately held by local investors. Its retail loan portfolio is close to that of the state-owned saving bank, Oshchadbank.

Here are some key facts about Pravex Bank's expansion:

Pravex Bank has a large client base, consisting of 40,000 business entities and over two million retail customers.

Pravex Bank is a private commercial bank based in Kyiv, Ukraine, licensed by the National Bank of Ukraine in 1992. It's a public joint-stock company operating in the banking industry.

In 2016, Pravex Bank was ranked the 88th bank in Ukraine by size of retail loan portfolio. This is impressive considering the bank's private ownership by local investors.

The bank has successfully managed to compete with heavyweights such as RZB Aval, BNP Paribas, and OTP. Its retail loan portfolio of $0.3 billion is close to that of Oshchadbank, a state-owned saving bank.

Pravex Bank was registered as a banking institution in December 1992. The bank started its business activities in Kyiv and Kyiv Oblast, providing services such as credit cards and cash payments for home utilities bills.

By the end of 2005, the bank had expanded to 406 offices across the country. By 2007, the network had grown to 520 offices in all 24 oblasts of Ukraine and the Autonomous Republic of Crimea.

The bank's client base consists of 40,000 business entities and over two million retail customers.

The project involves a EUR 25 million equivalent senior loan to Pravex Bank, which will be used for on-lending to eligible sub-borrowers.

This loan is guaranteed by the parent company Intesa Sanpaolo S.p.A.

The loan will be used primarily to support small and medium-sized enterprises (SMEs) through the EBRD Resilience Framework.

Pravex Bank has made significant strides in recent years.

In 2020, the bank launched its mobile banking app, allowing users to manage their accounts and perform transactions on the go. This move marked a major shift towards digital banking and catered to the growing demand for mobile banking services.

The bank has also expanded its operations, opening new branches in key locations across the country. This expansion has enabled Pravex Bank to reach a wider customer base and provide its services to more people.

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The bank has been actively involved in supporting Ukrainian businesses and individuals affected by the conflict.

Intesa Sanpaolo has provided financial support to Ukrainian companies, offering loans and other financial instruments to help them stay afloat.

The bank has also donated €1 million to the Italian Red Cross to support humanitarian efforts in Ukraine.

Intesa Sanpaolo has a significant presence in Ukraine, with a network of branches and a team of local staff who are working hard to support the community.

The bank's commitment to Ukraine is a testament to its dedication to supporting businesses and individuals in need, regardless of their location.

Intesa Sanpaolo acquired 100% of the share capital of JSC Pravex-Bank in Ukraine for an investment counter-value of Euro 493 million.

This acquisition was finalized after obtaining the necessary authorisations and conforming to the agreement executed on 4 February 2008.

Pravex-Bank has a network of 580 branches, approximately 1,900 point-of-sale consumer finance kiosks, and approximately 290 ATMs.

It provides personal, mortgage, and auto loans, as well as revolving credit cards, and serves approximately 1.2 million clients.

As at 31 December 2007, Pravex-Bank's financial statements showed total assets of approximately USD 1,150 million, customer loans of approximately USD 751 million, customer deposits of approximately USD 727 million, and shareholders equity of approximately USD 121 million.

The acquisition enables Intesa Sanpaolo to effectively enter the Ukrainian market, which has approximately 47 million inhabitants.