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25 January 2013

Main > Institutional > Press-center > News Ukraine’s prospects for cooperation with international financial organizations: banker’s position

Borys Tymonkin, CEO of PJSC "Ukrsotsbank", UniCredit Bank ™, supported the need for cooperation between Ukraine and the international financial institutions.

In particular, the well-known banker said: "The whole civilized world is looking at Ukraine through cooperation with international financial institutions. The commercial goodwill of our country is directly connected with the level of dialogue with the IMF and the World Bank."

Of course, the form of cooperation with such organizations doesn’t have positive feedback in society, because the state is subject to certain obligations and to unpopular recommendations of these organizations sometimes. However, CEO of PJSC "Ukrsotsbank", UniCredit Bank ™, is sure that it's not a single way for the long term stable development. "This is a unique situation when it is possible to get a loan at low interest rates. At that, lenders require absolutely necessary but unpopular actions for the economy recovery", Borys Tymonkin said.

Moreover, according to the banker, the banking system transition to the International Financial Reporting Standards in full is another indicator of the stability and readiness of the state to be a reliable business partner in a competitive and globalized world. "IFRS are an essential part of a modern bank functioning. When the institution implements them, its management sees a financial system with the same glasses as the rest of the world. It is important because the domestic financial system is an integral part of a global one; if we want to be on the right level we must work according to IFRS ", Boris Tymonkin said.

These views B.V. Tymonkin expressed during the interview to the official periodic issue of the National Bank of Ukraine, “Vestnik NBU”. The full version of an article you may view in “Vestnik NBU” № 12 for December 2012.

NOTE

PJSC "Ukrsotsbank" is a member of the leading European UniCredit Group. The Bank was established in September, 1990. The Bank’s network consists of 378 branches and 5 macro regions. The personnel of the Bank is 8094 employees.

http://en.unicredit.com.ua/



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