Ukrainian Banks: Factorial Bank
- Дата выхода отчёта: 28 февраля 2007 г.
- География исследования: Украина
- Период исследования: 2006 (актуализация по запросу)
- Язык отчёта: Английский
- Способ предоставления: электронный
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Содержание
1. No End to Banking Takeovers
Sector with rare growth: assets doubling every two years
M&A Congestion
Foreign ownership in the sector increases four-fold
Intense acquisitions will persist
Equity placements moving in support
Mid-size banks in the spotlight
2. Factorial Bank: Feasible Acquisition Target
Bank for sale
Universal bank with solid clientele
Strong in the middle
Established regional network
Strategic location
Regional beauty contest: Why Factorial?
3. Pre-Sale Polishing
Executive task force
Big-4 audited IFRS financials
Improved asset mix
Cleaning up loans
Earnings more than doubled in 2006
Expansion to higher-return retail
Lowering costs on the liability side
Strengthening its funding base
4. Valuation
Dividend discount model
DDM valuation summary: Benchmarking to total CAR of 12%
Valuation summary
Appendix 1
UAS financial statements
Appendix 2
IFRS financial statements
Appendix 3
Growth rates and key ratios
Appendix 4
Factorial Bank's operating performance*
CHARTS
Retail loans, USD mln
Retail/Total loans
Valuation summary
Factorial Bank - Assets
Factorial Bank - Net interest income
Factorial Bank - Loans
Factorial Bank - Fee income
Factorial Bank - Customer deposits
Factorial Bank - Operating expenses
Factorial Bank - Equity
Factorial Bank - Net income
TABLES
Market Information
Stock Ownership
Ratios, 2006
Key Financials, USD mln
Evolution of the Ukrainian banking sector
Recent M&A deals in the Ukrainian banking sector
Private placements in the Ukrainian banking sector
NBU classification of Ukrainian banks
Top banks in Kharkiv region
Kharkiv-based banks, as of Dec. 31, 2006
Loan portfolio quality, USD ths
Peer comparison
Key assumptions
DDM valuation summary: Case #1.
DDM valuation summary: Case #2.
UAS - Income statement summary, USD mln
UAS - Balance sheet summary, USD mln
IFRS - Balance sheet summary, USD mln
IFRS - Income statement summary, USD mln
Growth rates and key ratios
