Raiffeisen Bank Aval posted about UAH 2.74 billion profit for 1H 2017

Raiffeisen Bank Aval posted about UAH 2.74 billion profit for 1H 2017

Raiffeisen Bank Aval posted about UAH 2.74 billion profit for 1H 2017

The FINANCIAL -- Raiffeisen Bank Aval continues to demonstrate high financial results: in 2Q 2017, the bank posted a profit of almost UAH 1.29 billion. Since the beginning of the year, the bank’s profit has reached about UAH 2.74 billion on a cumulative basis.

The net interest incomes of Raiffeisen Bank Aval in January-June 2017 amounted to about UAH 2.74 billion, what is 15.5 per cent more than in the first half of the previous year. The bank’s net commission incomes for the reporting period sized UAH 1.04 billion (25.5% increase in comparison with the same period of 2016).

“Positive economic developments in the country promote an increase in the number of our clients, and this factor alongside with the bank’s proactivity in financing clients ensure high results for the bank”, noted Volodymyr Lavrenchuk, CEO of Raiffeisen Bank Aval. “We have got a growth of new loans for corporate and small businesses with a high quality loan portfolio. In addition, we have improved the servicing of the NPL loans, issued before 2010. Besides, like in earlier periods, we have a good cost of funds used for our business”, he added.

For the first half of 2017, the assets of Raiffeisen Bank Aval have increased by 8.8 per cent and reached over UAH 60.91 billion as at 30 June 2017, of which customer loans were UAH 30.86 billion (an increase by about UAH 2.86 billion or 10.2 per cent), according to Raiffeisen Bank Aval.

The liabilities of the bank have reached more than UAH 51.73 billion (the increase for the first six months of the year was above UAH 5.8 billion or 12.6 per cent).

Raiffeisen Bank Aval have enough capital (as at 30 June 2017, its own capital was over UAH 9.18 billion) and good liquidity indicators. The regulative capital adequacy ratio (H2) of the bank amounts to 20.58 per cent (with the required minimum of 10 per cent).