The net profit of Raiffeisen Bank Aval JSC (Kyiv) in January-March 2021 amounted to UAH 1.087 billion, which is 4.9% more than in the same period of 2020 (UAH 1.037 billion).
According to a report on the website of the financial institution, in the first quarter of 2021, the bank’s net interest income amounted to UAH 1.81 billion, net commissions reached UAH 561.39 million, which is 2.7% and 10.3% less than in January-March 2020, respectively.
The bank’s assets in the first three months grew by 1.5%, to UAH 108.86 billion, including a 1.4-fold rise in cash and cash equivalents, to UAH 22.38 billion, and a 3.7% increase in loans to customers, to UAH 47.41 billion.
The bank’s liabilities grew by 0.5%, to UAH 94.9 billion, including a rise of 3.5% in liabilities to customers, to UAH 91.3 billion.
The bank’s equity capital grew by 8.2%, to UAH 13.95 billion, while the charter capital remained unchanged (UAH 6.16 billion).
Raiffeisen Bank Aval was founded in 1992. As of January 1, 2021, its largest shareholders were Raiffeisen Bank International with 68.27% of shares and the European Bank for Reconstruction and Development (EBRD) with 30%.
According to the NBU, as of March 1, 2021, Raiffeisen Bank Aval ranked fifth in terms of total assets (UAH 118.336 billion) among 73 operating banks
Raiffeisen Bank Aval (Kyiv) plans to send UAH 4.274 billion (90% of profit) to pay dividends to holders of ordinary shares based on the results of the financial institution’s work in 2019, while in the past year it accrued UAH 3.561 billion, and a year earlier UAH 4.244 billion.
According to the bank’s report in the information disclosure system of the National Securities and Stock Market Commission, the relevant issue was included in the agenda of a general remote meeting of shareholders scheduled for September 11.
It is indicated that out of UAH 4.749 billion of net profit for 2019, the bank plans to send UAH 700,000 (0.01%) to pay dividends to holders of preferred shares and UAH 474.1 million (9.98%) to the reserve fund.
Dividends, if approved, will amount to 6.95 kopecks per share, while at present they are quoted on the Ukrainian Exchange at the following rate: purchase at 35.36 kopecks, sale at 35.5 kopecks.
According to the agenda, the shareholders will also consider the appointment of Lukasz Januszewski as head of the supervisory board of Raiffeisen Bank International (RBI), responsible for investment banking and trade, instead of Martin Grull, and Thomas Matejka as a member of the supervisory board instead of Harald Kroeger.
Raiffeisen Bank Aval (Kyiv) does not plan to reduce office space in 2020, said Alexander Pisaruk, Board Chairman of the bank Oleksandr Pysaruk has said.
“In the medium term, I see an opportunity to reduce office space for a number of reasons, but probably not this year,” he said in an interview with Interfax-Ukraine.
According to Pysaruk, the reduction in office space will depend on the pace of the spread of coronavirus disease (COVID-19), morbidity, and also the acceleration of the digitalization trend.
At the same time, the board chairman spoke about the bank’s plans for redevelopment of offices in accordance with the social distancing rules during lockdown.
“As for the office space, it needs to be redesigned. The combination of presence of a smaller number of employees in the office with larger distances between workstations requires a systematic review of approaches to managing office real estate, including the interior, the number and quality of sites,” Pysaruk said.
Lviv Brewery LLC, a large supplier of drinks and food products in Western Ukraine, became a guarantor of Pro Tek Vikna Ukraine LLC on a credit line of EUR 8 million from JSC Raiffeisen Bank Aval. According to a company’s report in the information disclosure system of the National Securities and Stock Market Commission, the decision to sign the respective agreement with Raiffeisen Bank Aval was taken on September 20, 2019. The deadline for credit redemption is by December 31, 2026.
The agreement provides for the transfer of a separate launch complex to the bank in mortgage with a total area of 31,790 square meters, land plots with an area of 2,500 hectares and 2,900 hectares (all in Yavorivsky district of Lviv region) of the company Pro Tek Vikna Ukraine.
Lviv Brewery began its activity in 1997 as a wholesale warehouse of food products of all categories, now a large distributor of FMCG in western Ukraine. Main areas of activity: distribution of beer brands Carlsberg, alcoholic beverages Nemiroff, Oreanda, Shabo, grocery products Oleina, Rollton, Runa and others.
Pro Tech Vikna Ukraine is engaged in the production of wooden containers, wholesale of food products, etc.
According to the Unified Register of Legal Entities and Individual Entrepreneurs, the final beneficiaries of both companies are Vasyl Novak, Andriy Panas and Roman Paskovych.
A supervisory board of Raiffeisen Bank Aval has appointed former first deputy governor of the National Bank of Ukraine (NBU), Oleksandr Pysaruk, as Raiffeisen Board Chairman. According to the bank’s posting on its website, this appointment was made as a part of the thorough picking up of a successor to the incumbent сhair of the supervisory board, Volodymyr Lavrenchuk, who has been holding this position for 14 years.
The board’s decision should be approved by the state supervision agencies.
Pysaruk held the post of NBU first deputy governor since July 2014 and by the end of 2015.
The net profit of JSC Raiffeisen Bank Aval (Kyiv) in January-March 2019 amounted to UAH 1.079 billion, which is 21.9% less than in the same period of 2018 (UAH 1.381 billion). According to the quarterly statements of the bank on its website, its net interest income for the first three months of the current year increased by 6.3% compared to the corresponding period last year, to UAH 1.740 billion.
Since the beginning of the year, its assets decreased by 3.8%, to UAH 70.526 billion, in particular loans to customers were down by 3.3%, to UAH 45.278 billion.
Since the beginning of the year, the bank’s liabilities have decreased by 6.3%, to UAH 57.804 billion.
The charter capital of the bank in the first quarter did not change and remained at UAH 6.153 billion, while net worth grew by 9.4%, to UAH 12.721 billion.
Raiffeisen Bank Aval was founded in 1992. According to its data, on January 1, 2019, Raiffeisen Bank International owned 68.27% of the charter capital of the financial institution, the EBRD held 30%.