In January-June this year, FUIB (Kyiv) received UAH 3.82 billion in net profit, which is 4% higher than in the same period of 2023 (UAH 3.68 billion), according to the bank’s quarterly report.
According to the report, the financial institution’s net profit for the second quarter of 2024 decreased by 20.8% compared to the comparable period of 2023 (UAH 2.13 billion) to UAH 1.69 billion.
According to the document, the bank’s net interest income for the first half of the year increased by 31.7% to UAH 7.12 billion, while net commission income increased by 15.1% to UAH 1.23 billion. In particular, these figures improved by 23.6% to UAH 3.56 billion and 43.2% to UAH 0.71 billion in April-June, respectively.
Since the beginning of 2024, the bank’s assets have increased by 6.3%, or by UAH 9.67 billion, and reached UAH 163 billion as of June 30, compared to UAH 125.7 billion at the end of the first half of 2023. This increase was primarily due to the growth of loans and advances to customers from UAH 52.06 billion to UAH 57 billion, in particular, by UAH 3.19 billion in the second quarter of 2024.
Since the beginning of the year, FUIB has increased cash on hand and in transit, as well as funds on the current account with the National Bank of Ukraine (NBU) by 29.6% and 41.2%, respectively, to UAH 3.74 billion and UAH 14.11 billion.
Funds under the item “other financial assets” increased 1.6 times to UAH 4.19 billion in the structure of total assets, which, in turn, was facilitated by more active purchases of foreign currency and an increase in bank card payments.
The volume of loans and advances to banks increased by 15.5% to UAH 4.87 billion, while investments in securities increased by 1.7% to UAH 59.16 billion.
Between January and June, the financial institution managed to increase its customer accounts from UAH 126.54 billion to UAH 132.93 billion, while the funds of banks increased from UAH 2.72 billion to UAH 3.33 billion.
In general, FUIB’s liabilities for this period increased from UAH 135.94 billion to UAH 141.22 billion.
It is noted that the bank’s capital increased by 25.3% over the six months of this year and reached UAH 21.78 billion, in particular, in the second quarter – by 11.3%, or UAH 2.22 billion. It is noted that retained earnings increased by 46.5% to UAH 11.41 billion during this time.
The remuneration of 10 members of the bank’s management board in terms of salary for the first half of 2024 increased by 12.1% compared to the same period of the previous year and amounted to UAH 75.6 million, while the remuneration of eight members of the supervisory board increased by 46.7% to UAH 16.6 million.
JSC First Ukrainian International Bank was founded on November 20, 1991 and started its operations in April 1992. As of March 31, 2024, the bank’s shareholders were SCM Finance (92.3%) and SCM Holdings Limited (7.7%, Cyprus) of Rinat Akhmetov.
According to the National Bank of Ukraine, as of June 1, 2024, FUIB ranked 6th (UAH 169.9 billion) among 63 banks in the country in terms of assets. The financial institution’s net profit for 2023 amounted to UAH 3.96 billion.
In January-March 2024, FUIB (Kyiv) received UAH 2.13 billion in net profit, which is 38.1% higher than in the same period of 2023 (UAH 1.55 billion), according to the bank’s quarterly report.
According to the report, the bank’s net interest income increased significantly in the first three months of 2024: by 41% year-on-year to UAH 3.56 billion, while net fee and commission income decreased by 9.2% to UAH 0.52 billion.
Since the end of 2023, the bank’s assets have increased by 2.5%, or by UAH 3.8 billion, and reached UAH 157.1 billion as of March 31. This increase was primarily due to an increase in investments in securities by 15%, or UAH 8.7 billion, to UAH 66.9 billion, as well as an increase in loans and advances to banks by 70% to UAH 7.1 billion and to customers by 3.4% to UAH 53.8 billion, of which UAH 43.2 billion to corporate clients (including expected credit losses), UAH 10.6 billion to individuals.
It is noted that the positive impact on the increase in FUIB’s assets is also associated with an increase in the item “other financial assets” by 39% to UAH 3.6 billion, primarily due to an increase in the purchase of foreign currency from UAH 0.06 billion to UAH 1.3 billion.
The amount of cash on hand and in transit decreased by 6% to UAH 2.7 billion, while FUIB’s funds on the current account with the National Bank increased by 23% to UAH 12.3 billion.
Between January and March, the financial institution managed to increase its customer accounts from UAH 126.5 billion to UAH 129.4 billion, while the banks’ accounts increased from UAH 2.7 billion to UAH 3.4 billion.
According to the report, at the same time, FUIB’s liabilities increased from UAH 135.9 billion to UAH 137.6 billion during this period.
It is noted that the bank’s capital increased by 12.5% in the first quarter and reached UAH 19.6 billion, including retained earnings by 27% to UAH 9.9 billion.
Remuneration to the members of the bank’s Management Board increased by 24.6% year-on-year to UAH 36.9 million in the first quarter, while remuneration to the Supervisory Board increased by 43.3% to UAH 8.1 million.
JSC First Ukrainian International Bank was founded on November 20, 1991 and started its operations in April 1992. As of March 31, 2024, the bank’s shareholders were SCM Finance (92.3%) and SCM Holdings Limited (7.7%, Cyprus). The actual control over FUIB is exercised by the citizen of Ukraine Rinat Akhmetov.
According to the National Bank of Ukraine, as of March 1, 2024, FUIB ranked 6th in terms of assets (UAH 163 billion) among 63 banks operating in the country. The financial institution’s net profit for 2023 amounted to UAH 3.95 billion.
Nationalized Sense Bank (Kyiv) and FUIB (Kyiv) note the demand for the buy now pay later (BNPL) service, which differs from traditional bank installment plans, and allow its introduction in Ukraine in the near future.
“We think that the client has a request for such a product as a purely European BNPL. (…) Therefore, we are now working with two fintechs, studying this model together with them and the possibility of joining them, because they have just implemented the European BNPL model,” said Inna Tiutiun, a member of the Sense board, at the Digital Lending 2024 conference initiated by the Ukrainian Association of Fintech and Innovation Companies (UAFIC) in Kyiv.
FUIB’s Deputy Chairman of the Board Dmytro Polishchuk, for his part, noted that there is “definitely a demand for the service.”
“And the most important thing is that when we talk about BNPL or installment payments, etc., we forget that the key client of this story is the merchant. (…) There is a very high demand from large retailers for this model, so if there is demand, there will always be a supply,” the banker added.
“I think that this year either we or Sense (Bank – IF-U) or someone else … one of us will show something this year. Because there are a lot of ideas, research, experience and a desire to try, because no one in Ukraine has actually tried this (implementation of the BNPL service – IF-U),” suggested Polishchuk.
According to him, FUIB has already tested a large number of customer experiences with full-fledged BNPL models, in particular, the bank’s team has worked out the legal component, which raised certain questions.
“(…) because in fact, BNPL in its purest form is the provision of a short-term loan to a non-bank customer and without onboarding in Diia, BankID, identification, passports. That is, it is not actually a loan, but a payment method with a certain installment plan for several weeks,” explained FUIB’s Deputy Chairman of the Board.
“We are very positive about this story. I think that this year there will be surprises in Ukraine (in the financial services market – IF-U),” the banker summarized.
According to the National Bank of Ukraine, as of February 1, 2024, Sens Bank ranked 8th (UAH 131.89 billion) among 63 banks operating in the country in terms of total assets, while FUIB ranked 6th (UAH 158.86 billion). Sense Bank was among the three leaders in terms of net profit for 2023, it amounted to UAH 5.04 billion, while FUIB’s net profit was UAH 3.96 billion.
The net profit of First Ukrainian International Bank (FUIB, Kyiv) for January-June this year amounted to UAH 3 billion 676.54 million, which is 16.8 times higher than in the same period of 2022, according to the bank’s report in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
According to the report, FUIB’s net interest income for January-June 2023 increased 4.3 times to UAH 5 billion 743.88 million.
Net fee and commission income for six months of the current year increased by 31.5% to UAH 1 billion 93.01 million, the report says.
It is stated that in January-June this year FUIB disbanded UAH 341.80 million of reserves, while in the same period last year it increased them by UAH 4 billion 267.11 million.
The bank’s total profit for the first half of 2023 reached UAH 4 billion 19.74 million against UAH 78.61 million in the first half of last year.
According to the report, in January-June this year, the bank’s assets grew by UAH 13 billion 736.74 million, reaching UAH 125 billion 710.96 million.
Such growth is explained by a significant increase in investments in securities – from UAH 12 billion 586.77 million to UAH 45 billion 547.69 million, while cash and funds with the NBU, on the contrary, decreased by 1.7 times – to UAH 27 billion 151.01 million.
At the same time, loans and advances to customers increased from UAH 43.77 billion to UAH 44.78 billion, while debts of other banks increased by UAH 0.64 billion to UAH 41.27 billion.
FUIB’s customer funds increased from UAH 90 billion 38 million to UAH 104 billion 77 million in the first half of 2023, while the bank’s capital increased from UAH 11 billion 76 million to UAH 15 billion 71 million, including retained earnings from UAH 3 billion 82 million to UAH 7 billion 502 million.
FUIB was founded in 1991, according to its website, it serves about 1.5 million customers and is owned by Rinat Akhmetov. According to the NBU data as of June 1, FUIB was among the top ten largest banks in the country, ranking 8th among 65 operating Ukrainian banks in terms of assets (UAH 131.96 billion). As of the end of June, the bank’s network included 5 regional branches and 221 outlets, compared to 213 outlets at the beginning of the year.
The net profit of First Ukrainian International Bank (FUIB, Kyiv) in January-March 2021 amounted to UAH 1 billion, which is 23.3% more than in the same period in 2020 (UAH 810.9 million), the bank said on its website.
According to the report, the bank’s net interest income in the first quarter increased by 20.7% compared to the same period a year earlier, to UAH 2.03 billion, and commission fees – by 5%, to UAH 439 million.
FUIB’s assets in the first three months of the year increased by 12.8%, to UAH 84.877 billion, in particular loans to customers – by 5.5%, to UAH 39.6 billion, and cash and cash equivalents – by 1.5 times, to UAH 21.26 billion.
The bank’s liabilities increased by 15%, to UAH 75.456 billion, in particular, customer funds – by 17%, to UAH 67.3 billion, and debt to other banks – by 35.7%, to UAH 1.84 billion.
The bank’s net worth decreased by 2.7% in three months, to UAH 9.42 billion. The charter capital remained at the level of UAH 4.78 billion.
FUIB was founded in 1991. Rinat Akhmetov is the owner of a significant stake in the bank (indirect participation is 99.9%).
According to the National Bank of Ukraine, as of March 1, 2021, in terms of total assets (UAH 85.516 billion) FUIB ranked seventh among 73 banks operating in the country.
The net profit of First Ukrainian International Bank (FUIB, Kyiv) in January-March 2021 amounted to UAH 1 billion, which is 23.3% more than in the same period in 2020 (UAH 810.9 million), the bank said on its website. According to the report, the bank’s net interest income in the first quarter increased by 20.7% compared to the same period a year earlier, to UAH 2.03 billion, and commission fees – by 5%, to UAH 439 million.
FUIB’s assets in the first three months of the year increased by 12.8%, to UAH 84.877 billion, in particular loans to customers – by 5.5%, to UAH 39.6 billion, and cash and cash equivalents – by 1.5 times, to UAH 21.26 billion.
The bank’s liabilities increased by 15%, to UAH 75.456 billion, in particular, customer funds – by 17%, to UAH 67.3 billion, and debt to other banks – by 35.7%, to UAH 1.84 billion.
The bank’s net worth decreased by 2.7% in three months, to UAH 9.42 billion. The charter capital remained at the level of UAH 4.78 billion.
FUIB was founded in 1991. Rinat Akhmetov is the owner of a significant stake in the bank (indirect participation is 99.9%).
According to the National Bank of Ukraine, as of March 1, 2021, in terms of total assets (UAH 85.516 billion) FUIB ranked seventh among 73 banks operating in the country.