Growth strategies against a backdrop of global economic turmoil discussed at the 3rd Annual UKRAINIAN BANKING FORUM
14/11/2008
In going with the times this year the Adam Smith Institute’s 3rd Annual UKRAINIAN BANKING FORUM was entitled “Growth Strategies against a backdrop of global economic turmoil”. It was held 11-13 November 2008 at Premier Palace Hotel, Kyiv. This annual gathering is the most significant event in the Ukrainian banking sector where both Ukrainian and international leading bankers, as well as analysts and economists share their views on future development in corporate and retail banking.
Considering the sudden change in global market conditions and rising inflation in the country itself this was a challenging year for both international and Ukrainian bankers alike forcing them to dramatically alter their development strategies. The 3-day event brought industry leaders together to combine efforts in finding solutions to existing problems and to define future development priorities.
This year the UKRAINIAN BANKING FORUM was attended by over 250 leading financiers from all over the world. During the REGULATORS’ SESSION, heads of National banks from Central and Eastern Europe discussed possible scenarios and solutions to facing the difficult challenge of maintaining the stability of the banking system and economy in general during a global liquidity crisis and rising rates of inflation.
The СЕО SESSION joined Chairmen from leading Ukrainian and international banks in a fruitful discussion focused on the changes which have occurred over the past year and possible future development strategies suitable for new conditions. Кey presentations by senior officials from key government organisations included a speech by the representative of the State Tax Administration of Ukraine.
During the session dedicated to THE PROSPECTS OF CONSOLIDATION Denis Lysenko, Partner and Head of Vasil Kisil & Partners’ Banking & Finance Practice addressed legal aspects and trends of the integration in Ukrainian banking sector. “The current market conditions will likely require further integration of banks, including both those with significant shareholding of a single shareholder, as well as banks in a distressed condition,” - Mr. Lysenko emphasized. Further more, he outlined the main forms of integration and their advantages and disadvantages, spoke on structuring of acquisition merger transactions and establishment of a banking holding group.
Mr. Lysenko closed his presentation with a specific example of Vasil Kisil & Partners’ recent integration experience - the ongoing acquisition merger by Skandinaviska Enskilda Banken AB (Sweden) of its two subsidiary banks: OJSC SEB Bank and JSB Factorial-Bank, which is expected to result in the merger of Factorial-Bank by and into SEB Bank as a non-balance outlet.
Considering the sudden change in global market conditions and rising inflation in the country itself this was a challenging year for both international and Ukrainian bankers alike forcing them to dramatically alter their development strategies. The 3-day event brought industry leaders together to combine efforts in finding solutions to existing problems and to define future development priorities.
This year the UKRAINIAN BANKING FORUM was attended by over 250 leading financiers from all over the world. During the REGULATORS’ SESSION, heads of National banks from Central and Eastern Europe discussed possible scenarios and solutions to facing the difficult challenge of maintaining the stability of the banking system and economy in general during a global liquidity crisis and rising rates of inflation.
The СЕО SESSION joined Chairmen from leading Ukrainian and international banks in a fruitful discussion focused on the changes which have occurred over the past year and possible future development strategies suitable for new conditions. Кey presentations by senior officials from key government organisations included a speech by the representative of the State Tax Administration of Ukraine.
During the session dedicated to THE PROSPECTS OF CONSOLIDATION Denis Lysenko, Partner and Head of Vasil Kisil & Partners’ Banking & Finance Practice addressed legal aspects and trends of the integration in Ukrainian banking sector. “The current market conditions will likely require further integration of banks, including both those with significant shareholding of a single shareholder, as well as banks in a distressed condition,” - Mr. Lysenko emphasized. Further more, he outlined the main forms of integration and their advantages and disadvantages, spoke on structuring of acquisition merger transactions and establishment of a banking holding group.
Mr. Lysenko closed his presentation with a specific example of Vasil Kisil & Partners’ recent integration experience - the ongoing acquisition merger by Skandinaviska Enskilda Banken AB (Sweden) of its two subsidiary banks: OJSC SEB Bank and JSB Factorial-Bank, which is expected to result in the merger of Factorial-Bank by and into SEB Bank as a non-balance outlet.