The net profit of Ukrgasbank (Kyiv) in January-June 2020 amounted to UAH 437.18 million, which is 1.6 times more than in the same period of 2019 (UAH 275.99 million), according to the bank’s quarterly report posted on the bank’s website on Tuesday.
According to it, in the second quarter, Ukrgasbank’s net profit amounted to UAH 98.11 million, which is 2.3 times less than in April-June 2019 (UAH 221.71 million).
The bank’s net interest income for six months decreased 5.8% compared to the same indicator a year earlier, to UAH 1.44 billion, and net fee and commission income grew by 18.6%, to UAH 555.81 million, while the cost of creating reserves for expected credit losses decreased by 91.3%, to UAH 34.89 million.
Ukrgasbank’s assets in the first six months of 2020 increased 24.2%, to UAH 148 billion, including loans to customers and finance lease fell by 2.6%, to UAH 37.97 billion, and cash and cash equivalents decreased 9%, to UAH 42.24 billion.
At the same time, the bank’s investments, which are measured at fair value through other comprehensive income, increased 2.1 times over this period, to UAH 64.59 billion.
Liabilities of Ukrgasbank in January-June grew by 25%, to UAH 138.64 billion, including customer funds – by 27.4%, to UAH 131.63 billion.
The bank’s equity capital rose by 13.5% in the first six months of this year, to UAH 9.37 billion, while the charter capital remained at the level of UAH 13.84 billion.
JSB Ukrgasbank was established in 1993. The state, represented by the Ministry of Finance, owns 94.94% of the shares of the financial institution.
According to the National Bank of Ukraine (NBU), as of June 1, 2020, Ukrgasbank was ranked fourth in terms of total assets among 75 banks operating in the country.
