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UniCredit Bank assets in 1Q2015 increased by 14.5% - to UAH 55.3 bn

23.04.2015

UniCredit Bank assets in first quarter 2015 increased by 14.5% - to UAH 55.3 billion. This is stated in the bank's quarterly report by national accounting standards.

"The hryvnia exchange rate increased almost by 50% during the first three months of the year, which had a decisive influence on the business climate, the customers’ solvency, and eventually on the quarterly results of the banks.

Our loss on foreign currency revaluation amounted to UAH 1.2 billion, and another UAH 1.2 billion was booked on provisions for loan impairment. As a result, the bank's losses as of Q12015 amounted to UAH 1.9 billion, - says UniCredit Bank CFO Giacomo Volpi. - At the same time, thanks to the capital support of the parent company - international banking group UniCredit - our regulatory capital increased by 2.7 times and as of 1 April, 2015 amounted to UAH 9.4 billion, and capital adequacy ratio reached 17.40% (while the normative standard is 10%)."

Mr. Volpi also noted that UniCredit Bank statutory capital will further increase by $250 million in the coming months.

"These actions make us one of the safest banks on the market. We have a strong parent company support, high liquidity and European approach to fulfill our obligations. All this is shown in the trust in our bank; as a matter of fact that since the beginning of the month the amount of hryvnia deposits of individuals increased by UAH 150 million, which indicates a reversal of the last year’s trend,"- said G. Volpi.

 

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


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