Pravex Bank

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Pravex Bank

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Pravex Bank is a private commercial bank based in Kyiv, the capital of Ukraine. Founded by Leonid Chernovetsky, it was licensed by the National Bank of Ukraine in 1992.

Pravex Bank
Company type	Public joint-stock company
Industry	banking
Founded	1992
Headquarters	Kyiv , Ukraine
Key people	Silvio Pedrazzi, Chairman of the Supervisory Board. Sergii Naumov, Chairman of the Management Board
Owner	Intesa Sanpaolo

Pravex Bank was ranked the number 88 bank in terms of the size of its retail loan portfolio by Ukraine's central bank as of 11 October 2016. 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$0.3 billion, is close to that of the state-owned saving bank, Oshchadbank (US$0.4 billion), which was ranked number seven.

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 Kyiv, the bank started its business activities in the city and in Kyiv 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 services (at that time) such as credit cards (VISA, Eurocard/MasterCard, Diners Club), cash payments for home utilities bills, etc. At the end of the 1990s, the bank started its regional expansion by opening offices in key oblast centers 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 two million retail customers. Pravex Bank is also an important precious metals trader in Ukraine. Silvio Pedrazzi is chairman of the supervisory board, and Taras Kyrychenko is chairman of the management board.

Since 2008, the Bank belongs to the Intesa Sanpaolo Group.