UKREXIMBANK OPENS REPRESENTATIVE TRADE OFFICE IN NEW YORK CITY
PR-USA News Release, NY, NY
Tues, December 25, 2007

NEW YORK - Ukreximbank, the State Export-Import Bank of Ukraine, is opening a representative trade office in New York.

One of the most profitable operators in the Ukrainian banking market, Ukreximbank is the country's leader in trade finance, servicing a large proportion of Ukraine's export-import activities. Its debut marks the first Ukrainian bank to open its doors for business in the U.S.

Ukraine has experienced impressive economic growth since the Orange Revolution in 2004 largely due to efficiency increases in its economy, a skilled labor force, and an increased foreign investment.

 

 

Much of that investment has focused on Ukraine's rapidly growing banking sector, in which shares of foreign assets have nearly doubled in the past three years alone.

Ukreximbank is a multi-purpose crediting financial institution established with 100% state capital. It is one of the largest banks in Ukraine, with branches in all regions and all major cities of the country.

Ukreximbank holds one of the highest ratings from Fitch Ratings and Moody's among Ukrainian banks. Earlier this year, Standard & Poor's named it 'most transparent bank in Ukraine' for the second year in a row.

This recognition, along with an impressive list of partner institutions including The European Bank of Reconstruction and Development, The World Bank, the Ukrainian government, and Mastercard International INC., contributed to Ukreximbank receiving official approval from the US Federal Reserve to establish a representative office in New York.

"Ukreximbank's New York office will focus on strengthening the bank's position in the US market, promoting the interests of Ukrainian companies that export to the U.S. and world markets, and will contribute to the strengthening of Ukraine-US cooperation," said Ukreximbank Chairman of the Board Viktor Kapustin.

Mr. Kapustin added that the U.S. opening signified a new level of global recognition of the progress made by Ukrainian finance and banking institutions generally.

For more information on Ukreximbank (www.eximb.com/en), please contact George Jungbluth by email at george.jungbluth@pbnco.com