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.
