- Net assets of the bank decreased by 5.0% to 35.2 billion UAH;
- Gross loans portfolio increased by 18.6% to 35.6 billion UAH;
- Customer funds remained almost unchanged and amounted to 24.4 billion UAH;
- Equity amounted to 4.9 billion UAH;
- Total income increased by 20.4% to 2.3 billion UAH;
- Profit before provisions and taxes increased by 30.2% to 1.5 billion UAH;
- Expenses for the creation of provisions for impairment of assets increased by 112.6%.
Performance ratios:
- Return on assets (ROA) before provisions and taxes increased and amounted to 8.1%;
- Return on equity (ROE) before provisions and taxes increased and amounted to 60.0%;
- Net interest margin equaled 6.4%.
Structural ratios:
- The ratio Average net loan portfolio/deposits amounted to 108.9%;
- The ratio Average customer funds/liabilities rose to 81.2%.
Asset quality ratios:
- Good coverage ratio: the ratio Provisions/Loans to customers equaled 22.7%.
Capital ratios:
- CAR (Basel) at a high level, equaled 16.4%;
- CAR (NBU) equaled 13.1%.
FUIB finished the 1st half of 2015 with a profit of 1.5 billion UAH before provisions and taxes, which is 30.2% higher than the result for the same period last year. Growth of operating profit is associated with the increase of net commission income by 3.9% to 387.1 million UAH and the increase of trade returns by 117.0% to 881.5 million UAH. Net interest income decreased by 8.0% and amounted to 1.1 billion UAH;
Since the beginning of 2015, net assets of the bank have decreased by 6% to 35.2 billion UAH; Gross loans portfolio increased by 6.6% and amounted to 35.6 billion UAH;
Customer funds amounted to 24.4 billion UAH, decreasing by 7% since the beginning of the year. At the same time, the funds of corporate customers decreased by 7% to 11.4 billion UAH, and the growth of funds of private customers equaled 2.4%, to 13.0 billion UAH.
Most of the provisions for lending operations of the bank were formed at the beginning of the year, which was caused by the sharp devaluation of the national currency and the aggravation of military conflict. Compared to the 1st half of 2014, deductions for lending operations increased more than 2 times and amounted to 2.3 billion UAH. In this regard, the financial result of the 1st half of 2015 turned out to be negative (-643.2 million UAH).
"By the summer of this year, it became apparent that FUIB has a sustainable business model. Despite the need for provisions and outflows of customer funds, the bank remains one of the most liquid and operationally profitable ones in the banking system. Merger with "Renaissance Credit" did not reduce organization's performance; we have not stopped lending to private clients and have resumed lending to corporate customers within limited amounts. At the same time, the dynamics of funds of private customers has again become positive. If stabilization of the economy continues, the Bank will finish 2015 without losses," noted
Serhiy Chernenko, FUIB's Chairman of the Board.
Комментарии