Pravex Bank
Encyclopedia
Pravex Bank is a private commercial bank
based in Kiev
, the capital of Ukraine
. Founded by Leonid Chernovetsky, it was licensed by the National Bank of Ukraine
in 1992.
Pravex Bank was ranked the No.8 bank in terms of the size of retail loan portfolio by Ukraine’s central bank as at 1 October 2006. In the environment of a booming retail lending business, the bank, which is privately held by local investors, has successfully managed to be among such heavyweights as RZB Aval, BNP Paribas and OTP. Its retail loan portfolio, at US$0.3bn, is close to that of the state-owned saving bank
Oshchadbank (US$0.4bn), which was ranked No.7.
Pravex Bank was registered as a banking institution by National Bank of Ukraine in
December 1992. The bank was founded by local private entities and individuals.
Incorporated in the country’s capital Kiev, the bank started its business activities in the city and in the Kiev Oblast
(province). In 1993, the bank opened its first offices there.
Since its inception, the bank has served private entrepreneurs, SMEs and private
individuals, providing them with innovative services (at that time) such as credit cards (VISA, Eurocard/MasterCard, Diners Club), cash payments for home utilities bills, etc.
At the end of 1990s, the bank started its regional expansion by opening offices in key
oblast centres and towns.
By the end of December 2005, Pravex Bank ran 406 offices scattered all over the
country. By February 2007, the network was extended to 520 offices in all 24
oblasts of the country and in the Autonomous Republic of Crimea. The bank’s client base consists of 40,000
business entities and over 2M retail customers.
Pravex Bank is also an important precious metals trader in Ukraine.
Since March 2006, the chairman of the bank was Stepan Chernovetskyi.
Since 2008, the Bank belongs to Intesa Sanpaolo group.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
based in Kiev
Kiev
Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press....
, the capital of Ukraine
Ukraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
. Founded by Leonid Chernovetsky, it was licensed by the National Bank of Ukraine
National Bank of Ukraine
National Bank of Ukraine is the central bank of Ukraine. Its headquarters building, constructed between 1902 and 1934, is located at no. 9 Institutska St., in Kiev-History:...
in 1992.
Pravex Bank was ranked the No.8 bank in terms of the size of retail loan portfolio by Ukraine’s central bank as at 1 October 2006. In the environment of a booming retail lending business, the bank, which is privately held by local investors, has successfully managed to be among such heavyweights as RZB Aval, BNP Paribas and OTP. Its retail loan portfolio, at US$0.3bn, is close to that of the state-owned saving bank
Oshchadbank (US$0.4bn), which was ranked No.7.
Pravex Bank was registered as a banking institution by National Bank of Ukraine in
December 1992. The bank was founded by local private entities and individuals.
Incorporated in the country’s capital Kiev, the bank started its business activities in the city and in the Kiev Oblast
Kiev Oblast
Kyiv Oblast, sometimes written as Kiev Oblast is an oblast in central Ukraine.The administrative center of the oblast is the city of Kyiv , also being the capital of Ukraine...
(province). In 1993, the bank opened its first offices there.
Since its inception, the bank has served private entrepreneurs, SMEs and private
individuals, providing them with innovative services (at that time) such as credit cards (VISA, Eurocard/MasterCard, Diners Club), cash payments for home utilities bills, etc.
At the end of 1990s, the bank started its regional expansion by opening offices in key
oblast centres and towns.
By the end of December 2005, Pravex Bank ran 406 offices scattered all over the
country. By February 2007, the network was extended to 520 offices in all 24
oblasts of the country and in the Autonomous Republic of Crimea. The bank’s client base consists of 40,000
business entities and over 2M retail customers.
Pravex Bank is also an important precious metals trader in Ukraine.
Since March 2006, the chairman of the bank was Stepan Chernovetskyi.
Since 2008, the Bank belongs to Intesa Sanpaolo group.