Best Bank: UkrSibbank
In April 2006, 51% of UkrSibbank was acquired by BNP Paribas, a move that not only enhanced the bank’s corporate governance overnight, but also improved its funding and so opened many doors to push growth in the retail franchise of the bank. Since March last year UkrSibbank has participated in 14 corporate bond issues which, by volume, amount to 25% of the market in the Ukraine. With this, UkrSibbank has been named the most active trader of municipal and corporate bonds by the PFTS. The bank has also been active in the international capital markets, issuing a $500 million Eurobond, and it plans to do a mortgage securitization in the coming months after the first securitization deal in Ukraine, which was fairly successfully completed in March. Among the locally owned banks, Creditprom is deserving of a mention as it grows services across the board and looks set to snap at the heels of the lead banks in coming years.