Aval Bank Best debt house
Best equities house
Best local partner
Ukraine is enjoying strong economic growth this year. In April, the economy grew 13% year on year, with GDP growth for 2004 as a whole expected to be about 9%. Ukrainian banks have also taken a step forward, in profitability and in the sophistication of their financing.
Aval Bank, winner of the best bank award, and the largest bank in the Ukraine, has posted strong growth since it won this award last year. Its assets have grown from $1 billion in 2002 to $1.8 billion in 2003, net interest income has grown from $66 million to $87 million, and net income has grown from $10 million to $12 million, over the same period.
The bank has forged a strong brand for itself in Ukraine, coming first in a poll of bank consumer preferences carried out by the Institute of Reforms. Partly, this reflects its good reputation in the market ? another poll found Ukrainians believed it was the country?s most trustworthy bank.
It also reflects the bank?s ability to adapt and expand to meet market needs.