Business news from Ukraine


2 May , 2020  

The net profit of Ukreximbank (Kyiv) in 2019 amounted to UAH 63.62 million, which is 13.4 times less than in 2018 (UAH 852.30 million), according to the bank’s report on the website.
According to the report, in the fourth quarter of 2019, the net loss of Ukreximbank amounted to UAH 2.21 billion, while in 2018 the bank declared a profit of UAH 146.06 million for this period.
One of the reasons for the decrease in profit in 2019 was a decrease in the bank’s interest income by 7%, to UAH 1.77 billion, which is associated with a decrease in the loan portfolio by 3%, to UAH 7.24 billion and the securities portfolio by 14%, to UAH 3.57 billion.
In terms of non-interest income, there was an increase in net commission income by 4%, to UAH 652.24 million. This partially offset the decrease in other incomes by almost 2 times, to UAH 105.09 million, due to a lack of one-time and irregular receipts.
In addition, the loss in the fourth quarter of last year and the decrease in profit in general for 2019 are explained by an increase in expected credit losses to UAH 3.039 billion from UAH 1.14 billion for three quarters, while in 2018 the bank, on the contrary, received an additional UAH 1.64 billion.
The bank’s assets in 2019 decreased by 13.2%, to UAH 140.34 billion, in particular loans to customers by 26.5%, to UAH 53.28 billion.
The bank’s liabilities decreased by 14.2%, to UAH 131.43 billion, in particular, debt to customers by 6.1%, to UAH 77.13 billion.
Ukreximbank’s net worth for 2019 rose by 5.5%, to UAH 8.90 billion.
The charter capital of the bank remained at the level of UAH 38.73 billion.