Business news from Ukraine

NET PROFIT OF UNIVERSAL BANK IN JAN-JUNE INCREASES BY 5.7 TIMES

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.

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UNIVERSAL BANK SEES 5.7-FOLD RISE IN NET PROFIT

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.

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