Universal Bank’s (mono) net profit for January-June 2023 amounted to UAH 1 billion 564.7 billion, which is almost 6.3 times higher than the same period in 2022, according to the bank’s unconsolidated half-year report.
According to the report, in particular, in the second quarter of this year, the bank posted a net profit of UAH 740.65 million, which is almost 2.1 times better than in the second quarter of last year.
It is noted that the net interest income of Universal Bank for the first half of this year increased by 62.6% to UAH 5 billion 517.0 billion, in particular, in the second quarter the growth was 89.6% to UAH 2 billion 763.5 million.
Net commission loss in January-June this year was 2.9 times higher than the loss in January-June 2022, amounting to UAH 611.1 million, in particular, in April-June – by 40.3%, amounting to UAH 381.2 million.
A significant contribution to the improvement of the bank’s financial result was made by the reduction of impairment loss in the first half of this year to UAH 682.1 million, while in the same period last year this figure amounted to UAH 3 billion 753.6 million. According to the report, in the second quarter of this year, the loss on this item amounted to UAH 271.8 million against UAH 2 billion 531.4 million in the second quarter of last year.
Net profit from foreign exchange operations decreased in the first half of this year to UAH 1 billion 923.8 million from UAH 2 billion 395.0 million in the first half of last year, including UAH 806.99 million in the second quarter from UAH 2 billion 75.0 million.
The bank’s total profit for the first half of 2023 reached UAH 1 billion 846.6 million compared to UAH 201.2 million for the same period last year.
According to the report, in January-June this year, the bank’s assets increased by UAH 6.14 billion, reaching UAH 92.71 billion.
This growth is attributed to an increase in cash and balances with the NBU from UAH 19.72 billion to UAH 26.44 billion, loans and advances to customers from UAH 17.8 billion to UAH 22.02 billion, and amounts due to other banks from UAH 2.93 billion to UAH 4.14 billion.
At the same time, investments in securities decreased from UAH 34.35 billion to UAH 30.89 billion.
In the first half of 2023, Universal Bank’s customer accounts increased by 11.6% to UAH 77.43 billion, equity increased from UAH 9.20 billion to UAH 11.05 billion, while retained earnings decreased by 27.5% to UAH 1.56 billion.
Universal Bank was founded in January 1994, in 2016 it became a member of the financial and industrial group TAS owned by Sergey Tigipko, and in 2017 it became a participant. Universal Bank operates a virtual monobank that serves about 7.44 million customers.
According to the NBU, as of June 1, Universal was one of the ten largest banks in the country, ranking ninth among 65 operating Ukrainian banks in terms of total assets (UAH 100.24 billion). At the beginning of June, the bank’s network consisted of 13 branches. The average number of employees in the first half of 2023 was 2168, compared to 2216 as of the end of the reporting period on December 31, 2022.
The net profit of Universal Bank (Kyiv) in January-June 2021 amounted to UAH 1.65 billion, which is 5.7 times more than in the same period of 2020 (UAH 288.614 million).
According to the quarterly reports published on the bank’s website, its net profit for the second quarter of 2021 amounted to UAH 782.255 million, which is 6.3 times more than in the corresponding period last year (UAH 123.96 million).
The bank’s net interest income for the six months increased by 2.2 times compared to the same period in 2020, to UAH 2.2 billion, and net commission income – by 1.5 times, to UAH 1.25 billion.
The bank’s assets in January-June increased by 23.2%, to UAH 41.859 billion, including loans and customer debt – by 1.3 times, to UAH 22.19 billion, and cash and cash equivalents – by 8%, to UAH 4.49 billion.
Universal Bank’s liabilities for the first half of the year increased by 20%, to UAH 37.5 billion, including customer funds – by 18.8%, to UAH 32.526 billion.
The bank’s equity capital in January-June grew by 1.6 times, to UAH 4.3 billion, while the charter capital remained at the level of UAH 4.309 billion.
Universal Bank is part of TAS Group of businessman Sergiy Tigipko, which was founded in 1998 and has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals and venture projects. In addition to Universal Bank, the financial sector of the group includes TAScombank, two insurance companies, and a number of other organizations.
According to the National Bank of Ukraine, as of June 1, 2021, Universal Bank ranked 11th in terms of total assets (UAH 42.96 billion) among 73 banks operating in the country.
The net profit of Universal Bank (Kyiv) in January-June 2019 amounted to UAH 268.46 million, which is 5.7 times more than in the same period of 2018.
According to the report posted on the bank’s website, the net interest income of the bank in the first half of this year increased by 2.4 times compared with the corresponding period of 2018, to UAH 452.967 million.
The bank’s assets for six months of this year rose by 42.3%, to UAH 12.034 billion, in particular loans to customers were by 41.1%, up – to UAH 6.612 billion.
Since the beginning of the year, the bank’s liabilities grew by 43.4%, to UAH 10.898 billion, its net worth increased by 32.1%, to UAH 1.136 billion. Charter capital remained at the level of UAH 3.103 billion.
Universal Bank is part of TAS Group of businessman Sergiy Tigipko, which was founded in 1998 and has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals and venture projects.
