6. Appendices
Appendix 1
Appendix 2
Appendix 3
CHARTS
Performance YTD
Ukr. bank index vs. PFTS & MSCI EM banks
Upsides and recommendations
ROE: Ukrainian Banks Aggregate
P/B and Book Value growth
P/E and Earnings growth
Asset growth, % yoy
Loan portfolio growth, % yoy
Deposit growth, % yoy
Equity growth, % yoy
Lending vs. GDP Growth
Loan/GDP Evolution in 2001-06
Average "add" to Loan/GDP, 2001-06
Mortgage loans, USD bln
Mortgage/Total loans, %
Mortgage lending penetration, 2006
Residential housing construction
Apartment prices in Kyiv, USD/sq. m
Mortgage & term deposit interest rate
Ukraine's key mortgage lenders*
Mortgage & retail deposits growth
Deposit/GDP, 2006
Ukraine's Loan/Deposit ratio
Ukrainian banks' foreign borrowing*, USD mln
Ukrainian banks: Syndicated loans
Eurobond placements
Equity and asset growth
Sector's capital adequacy ratio
Retail loans
NIM & average interest lending rate
Net income & share capital growth, % yoy
ROE and Return on Share capital
Main contributors to equity growth in 2006
Assets available for further acquisition
TABLES
Comparative valuation
Raiffeisen Bank Aval - Key model assumptions, UAH mln
Raiffeisen Bank Aval - Valuation summary
Raiffeisen Bank Aval - Sensitivity analysis: Share price, USD
Megabank - Key model assumptions
Megabank - Valuation summary
Megabank - Sensitivity analysis: Share price, USD
Bank Forum - Key model assumptions
Bank Forum - Valuation summary
Bank Forum - Sensitivity analysis: Share price, USD
Faktorial Bank - Key model assumptions
Faktorial Bank - Valuation summary
Faktorial Bank - Sensitivity analysis: Share price, USD
Ukrsotsbank - Key model assumptions
Ukrsotsbank - Valuation summary
Ukrsotsbank - Sensitivity analysis: Share price, USD
Ukrinbank - Key model assumptions
Ukrinbank - Valuation summary
Ukrinbank - Sensitivity analysis: Share price, USD
Rodovid - Key model assumptions
Rodovid - Valuation summary
Rodovid - Sensitivity analysis: Share price, USD
Ukrgazbank - Key model assumptions
Ukrgazbank - Valuation summary
Ukrgazbank - Sensitivity analysis: Share price, USD
Ukrainian banking: Key forecasts
M&A Deals in the Ukrainian banking sector
Private placements in the Ukrainian banking sector
Foreign ownership penetration assumptions
The most likely takeover candidates in 2007
Factorial Bank - Income statement summary, USD mln
Factorial Bank - Balance sheet summary, USD mln
Forum - Income statement summary, USD mln
Forum - Balance sheet summary, USD mln
Khreschatyk Bank - Income statement summary, USD mln
Khreschatyk Bank - Balance sheet summary, USD mln
Megabank - Income statement summary, USD mln
Megabank - Balance sheet summary, USD mln
Nadra Bank - Income statement summary, USD mln
Nadra Bank - Balance sheet summary, USD mln
Raiffeisen Bank Aval - Income statement summary, USD mln
Raiffeisen Bank Aval - Balance sheet summary, USD mln
Rodovid Bank - Income statement summary, USD mln
Rodovid Bank - Balance sheet summary, USD mln
Ukrgazbank - Income statement summary, USD mln
Ukrgazbank - Balance sheet summary, USD mln
Ukrinbank - Income statement summary, USD mln
Ukrinbank - Balance sheet summary, USD mln
Ukrsotsbank - Income statement summary, USD mln
Ukrsotsbank - Balance sheet summary, USD mln
Ukraine's Top-60 banks: Balance sheet summary
Ukraine's Top-60 banks: Income statement summary
Ukrainian banking sector evolution