October 12, 2007Megabank: Five Good Reasons
Megabank [MEGA] is a mid-size, Kharkiv-based bank, and is moving towards becoming one of Ukraine’s top 20 banks. Notably, it combines considerable growth with a high quality loan portfolio and a low cost-to-income ratio. MEGA is also a very transparent, and works with World bank, EBRD, and the IFC on a number of corporate governance and lending programs. Megabank should significantly benefit from the growing Ukrainian middle class: 40% of its retail business is represented by car loans, which, in turn, have one of the highest levels middle class penetration levels – 23%. When combined with mortgage-secured consumer loans, car lending should enable MEGA to achieve a true breakthrough in retail.