Fixed Income Research Note: Oschadbank

Alfa-Bank Ukraine
Fixed Income Research Note: Oschadbank
Thursday, February 17, 2011

Bank’s Profile
Oschadbank is one of the two state-owned banks, the 3rd largest by assets and the 2nd by own capital in Ukraine. It has the largest network, comprising 5,745 offices all over the country. In addition to classical banking, Oschadbank performs such functions as the disbursement of pensions, social aid, processing of utility payments and other banking transactions. Taking into account its social orientation the Bank aims at maintaining wide presence in all regions of Ukraine.
Oschadbank is the only Ukrainian bank where the deposits and other valuables of citizens are fully guaranteed by the state by law. Besides wide range of services to individuals, the Bank actively cooperates with large corporate clients, such as offices of the Pension Fund of Ukraine, Ukrainian Post Office, the members of the wholesale electrical energy market etc. Also Oschadbank is the major lender for many strategic Ukrainian companies, including Naftogaz of Ukraine and several GenCos.

Contents
· Financial Performance of Oschadbank
· Exposure to Naftogaz
· Liabilities of Oschadbank
· Oschadbank’s debut eurobond

Please find full version of report in the attached file