The net profit of the state-owned Ukrgasbank (Kyiv) in 2020 amounted to UAH 411 million, which is 66.7% less than in the same period in 2019 (UAH 1.289 billion).
According to the statements posted on the bank’s website, its net loss for the fourth quarter of 2020 amounted to UAH 274 million, while the net profit for the same period in 2019 amounted to UAH 942 million.
Net interest income of Ukrgasbank after spending on loan expenses for the year decreased by 20% year-over-year (to UAH 1.69 billion), while net commission income grew by 16.1% (to UAH 1.2 billion).
The bank’s assets in 2020 increased by 18.1%, to UAH 142.7 billion, including loans to clients and financial leases – by 21.9% (to UAH 47.5 billion), and investments that are estimated at fair value increased by 1.8 times, to UAH 56 billion.
The bank’s liabilities for the corresponding period increased by 1.2 times, to UAH 134.2 billion, including customer accounts – by 1.2 times, to UAH 126.5 billion.
The bank’s equity capital increased by 3.6% over the year, to UAH 8.55 billion, the charter capital remained at the level of UAH 13.84 billion.
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 March 1, 2021, Ukrgasbank in terms of total assets (UAH 149.524 billion) ranked fourth among 73 banks operating in the country.