Newly created Bank Financial Partner by late 2013 to increase loan portfolio by over 8 times

Kyiv, November 12 (Interfax-Ukraine) - The newly established Bank Financial Partner (Kyiv) is intending by the end of 2013 to increase its credit portfolio by at least 8.3 times, to UAH 500 million.

Bank Board Chairman Rostyslav Pavlychenko said at a press conference at Interfax-Ukraine on Monday that the bank intends in the first year of business to invest about $30 million in the purchase of government securities.

He also said that the bank would develop as a universal bank.

According to the banker, the bank owners do not rule out the possibility of buying a bank, including one with foreign capital.

"Now it's a good time to buy banks, the question is that of their cost," added Pavlychenko.

As reported, the National Bank of Ukraine on October 19 this year registered Bank Financial Partner (Kyiv). Its charter capital is UAH 125 million.

Pavlychenko, who previously held the post of board chairman at Eurogasbank, holds a 60% stake in the bank, while his brother Oleh Pavlychenko owns 40%.