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UniCredit Bank's 4Q2013 net profit increased by 46.4%

27.01.2014

UniCredit Bank announces financial results for the IV quarter of 2013 according to national accounting standards. Net profit in the IV quarter was UAH 2.743 mln, 46.4% up over the same period of 2012 (UAH 1.873 million). Net Profit for 2013 reached UAH 10.988 mln, showing an increase of 36.1% comparing with the last year.

Thanks to commercial activities and the integration of the two UniCredit’s subsidiaries in Ukraine total assets' volume of the bank during 2013 increased by 10.9% to UAH 43.056 bln; the loan portfolio of UniCredit increased by 15,6% to UAH 27.37 bln with loans and advances to corporate entities at UAH 15.97 bln and individuals at UAH 11.4 bln; Bank's liabilities increased by 10.3% to UAH 34.39 bln; customer accounts increased by 17.6% to UAH 21.61 bln; and the bank's equity increased by 13.2% to UAH 8.67 bln.

"During 2013 we successfully merged the two UniCredit's banks in Ukraine building a leading franchise that is further improving the level of services to our customers base. Moreover, we continued to work-out the problematic part of the loan portfolio, considerably reducing the level of bad debts. In 2014 UniCredit Bank is planning to further develop all market segments, with corporate customers business expected to grow the most", - UniCredit Bank's CFO Giacomo 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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