Net profit of Credit Agricole Bank (Kyiv) amounted to UAH 4.09 billion last year, which is 46.5% or UAH 1.44 billion more than in 2023, the press service of the financial institution reports.
“Crédit Agricole Bank’s net profit for the year amounted to UAH 4.1 billion after taxes at the increased rate of 50% (…) The bank’s financial results demonstrate sustainable development dynamics, disciplined risk management, and customer confidence,” the press release says.
It is noted that Credit Agricole’s net banking income for 2024 reached UAH 9.25 billion, which is 4.9% more than last year.
According to the press release, this is due to the growth of net interest income by 3.9% compared to 2023 to UAH 8.17 billion and increase of the deposit base by 10.9% to UAH 100.1 billion.
It is specified that corporate deposits increased by 9.3% to UAH 79.14 billion, and retail deposits by 17.2% to UAH 20.95 billion.
At the same time, the bank’s fee and commission income decreased by 5.6% to UAH 706 million.
The volume of loans and advances to customers remained almost unchanged in 2024, remaining at UAH 28.16 billion. Loans to businesses in Credit Agricole decreased by 2.8% to UAH 23.60 billion, while loans to individuals increased by 20.6% to UAH 4.55 billion.
“Credit Agricole has strengthened its position as a leader in car lending with a 28% market share in Ukraine. In 2024, the bank disbursed new car loans in the amount of UAH 3.3 billion, which is 50% more than in the previous year, outpacing the market growth rate of 40%,” the press service of the bank noted.
Last year, the bank’s assets increased by 12.9% to UAH 116.93 billion, while liabilities grew by 9.7% to UAH 103.75 billion. Agricole’s operating expenses increased by 11.7% to UAH 2.68 billion.
The National Bank of Ukraine (NBU) has included Credit Agricole Bank into the list of systemically important banks following its annual review, thus increasing the number of banks on the list to 15.
As stated in the NBU`s resolution No.95 “On Determination of Systemically Important Banks” dated March 8, it also includes A-Bank, Credobank, OTP Bank, Oschadbank, Pivdenniy Bank, PrivatBank, PUMB, and Raiffeisen Bank.
Sens Bank, TAScombank, Ukrgasbank, Ukreximbank, Ukrsibbank, and Universal Bank (mono) are also on the list.
As of February 1, 2023, Credit Agricole Bank ranked 11th out of 67 operating banks by total assets (UAH 81.03 billion). At present, the number of operating banks has dropped to 65.
Credit Agricole Bank (Kyiv) in January-March 2018 saw UAH 439.944 million in net profit, which is 43.9% more than a year ago (UAH 305.55 million). According to a quarterly financial report of the bank, net interest income over the period amounted to UAH 532.854 million, which is 16.7% more than year-over-year (UAH 456.707 million).
In addition, the bank saw commission income in the amount of UAH 230.538 million (14.8% up year-over-year).
Assets over the period fell by 2.1%, to UAH 30.303 billion, while the charter capital grew by 10.3%, to UAH 3.601 billion.
The bank said in a press release that the bank’s performance in the first quarter of 2018 was the best in the entire history of its operations.
“Universal banking model allows Credit Agricole Bank to diversify its main sources of revenues and to maintain an excellent financial performance. The bank is in a position to compensate adverse trends that are associated with narrowing of market spreads, and to continue further its positive dynamics in 2018. In Q1 2018, Credit Agricole Bank has posted the highest quarterly net result ever achieved which gives good expectations for the whole year 2018,” Management Board Member, Financial Director of Credit Agricole Bank Regis Lefevre said.
Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2018 owned a 99.9961% stake in PJSC Credit Agricole Bank. Credit Agricole Bank ranked 13th among 84 operating banks in the country on January 1, 2018 by total assets (UAH 33.325 billion), according to the National Bank of Ukraine.
