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UniCredit Bank in 1Q 2014 increased profit by 5.3 times - to UAH 23.2 million


UniCredit Bank net profit in 1Q 2014 amounted to UAH 23.229 million. This is stated in the 1Q report.

Thus, in comparison with the financial result of UAH 4.382 million for the same period in 2013, UniCredit Bank increased its profit by 5.3 times.

Net interest income for the quarter increased by 42% - to UAH 607.5 million, fee revenues - by 9.9% to UAH 190.1 million.

"These data reveals the effects of the bank integration and our efforts to improve the efficiency of the financial institution. Despite the difficult situation in the country, we were able to improve the performance" - said CFO of UniCredit Bank Giacomo Volpi.

The bank's assets as of April 1, 2014 amounted to UAH 46.123 billion, which is 7.1% more than as of January 1, 2014. UniCredit Bank liabilities during this period increased by 9.3% to UAH 37.579 billion.

"Growth in assets is explained by the revaluation of customers’ loans in foreign currency due to exchange rate fluctuations," - says Volpi.

To remind, on December 2, the process of PJSC "UniCredit Bank" and PJSC "Ukrsotsbank" operational part of the integration was completed. The integrated bank is now operating in the Ukrainian banking market under the UniCredit Bank brand.



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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