State-owned Oschadbank quadrupled its net profit in January-August this year compared to the same period in 2022 – from UAH 2.3 billion to more than UAH 9.4 billion, including a net profit of UAH 1.2 billion in August.
“The final financial result was also affected by the revaluation of financial instruments in the securities portfolio: it added about UAH 1.5 billion to the total profit,” the press service of the financial institution told Interfax-Ukraine on Monday.
The state-owned bank notes an improvement in all key financial indicators. In particular, its net interest income increased by 39% to UAH 12.1 billion compared to the figures for 8 months of 2022, and net commission income by 30% to UAH 4.4 billion.
Operating profit amounted to UAH 7.8 billion, which is more than twice as much as in the same period last year.
In addition, as noted in the press service, Oschad has sufficient liquidity and capital at its disposal.
According to the information provided, the regulatory capital adequacy ratio of the financial institution as of September 1 this year amounted to 18.48%, while the established standard of the National Bank of Ukraine (NBU) is 10%.
At the same time, the bank has so far refrained from forecasting its financial results for this year.
According to the NBU, as of July 1, 2023, Oschadbank ranked 2nd in terms of assets (UAH 324.74 billion) among 64 banks operating in the country, and first in terms of the number of branches in the country (1183).
