Business news from Ukraine


26 October , 2015  

KYIV. Oct 26 (Interfax-Ukraine) – Net interest-bearing income of Raiffeisen Bank Aval (Kyiv) grew by 20.8% in January-September 2015 year-over-year, to UAH 4.271 billion.

The bank said in a quarterly report that its loss totaled UAH 2.064 billion in January-September 2015, which is 50.8% up year-over-year (UAH 1.369 billion).

In Q3 2015, the loss amounted to UAH 71.376 million, which is 80.4% down year-over-year (UAH 365.908 million).

Total assets grew by 12.8%, to UAH 52.639 billion.

Credits and debts of clients decreased by 13.2%, to UAH 25.961 billion.

Reserves for overdue credits reached 85.9% of the total sum of credits and clients’ debts as of early October, while as of early 2015 they were 46.7%.

The charter capital of the bank remained UAH 3.003 billion and net worth fell by 35.4%, to UAH 3.843 billion.

The bank said that the loss was seen due to hryvnia devaluation, the bank also formed additional reserves and revised the currency position. The bank saw loss also due to the stoppage of operation in the Anti-Terrorist Operation (ATO) zone and due to the worsening of the economic situation in Donbas.

However, the operating profit was large.

“These improved results allowed the bank to see total operating profit of UAH 3.3 billion in Q3 2015, which is a clear evidence of the efficiency and proper development of the institution,” the bank said in the report.

Capital adequacy coefficient of the bank is 13.23% with the requirement of at least 10%.

Raiffeisen Bank Aval was founded in 1992. As of late September 2015, Raiffeisen Bank International held 96.5% of shares in the Ukrainian bank.

RBA ranked sixth among 127 banks operating in the country on July 1, 2015 by total assets (UAH 52.414 billion), according to the National Bank of Ukraine.