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UniCredit Bank doubled its profit in 1H2014 – to UAH 13.1 mln.

17.07.2014

UniCredit Bank net profit in 1H 2014 amounted to UAH 13.1 million. This is stated in the 2Q report.

Thus, in comparison with the financial result of UAH 6.49 million for the same period in 2013, UniCredit Bank doubled its profit.

Net interest income for the half-year increased by 6,5% - to UAH 1.005 bln, fee income - by 6% to UAH 402.9 million.

Bank assets since the beginning of the year rose by 7.9% - to UAH 46.4 bln, liabilities – by 10%, to the amount of UAH 37.826 bln. Individuals funds during the half a year decreased by 1.8%, to the UAH 11.731 bln, legal – by 22%, to the UAH 7.542 bln.

"It was obviously not the best quarter for the banking system. Political and financial instability hit our clients' welfare and as a consequence this led in the 2Q2014 to the reduction of the net interest income and to a net loss in the amount of UAH 10.1 mln. Nevertheless, during the last month individuals’ deposits increased by UAH 327 mln and that gives hope for a gradual improvement of the situation" – underlined Giacomo Volpi, UniCredit Bank's CFO.

 

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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