KYIV. Aug 2 (Interfax-Ukraine) – The profit of Credit Agricole Bank (Kyiv) in January-June 2016 amounted to UAH 316 million, which is 26.9% more than in the corresponding period of 2015 (UAH 249 million).
“According to interim financial statements, Credit Agricole Bank (Ukraine) in the first half of 2016 saw a net profit of UAH 316 million, which is UAH 67 million more than in the first half of 2015,” reads a posting on the bank’s website.
According to the report, this financial result was achieved due to stable revenues and lower risk costs: the cost of risks decreased significantly compared to the same period of 2015, by 19%, or UAH 125 million. Reduction in risk costs reflects the improvement of the environment. At the same time, the bank continued its conservative policy of reserve formation, which entailed the increase in the NPL coverage ratio from 71% at the beginning of 2016 to 77% at the end of the first half of 2016.
The ratio of regulatory capital adequacy at the end of June 2016 reached 17.84%, far exceeding the NBU norm of 10%.
Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2016 owned a 99.9961% stake in PJSC Credit Agricole Bank.
