Raiffeisen Bank Aval Earned Over UAH 4 Billion in Profit for 9 Months of 2018

Raiffeisen Bank Aval Earned Over UAH 4 Billion in Profit for 9 Months of 2018

Raiffeisen Bank Aval Earned Over UAH 4 Billion in Profit for 9 Months of 2018

The FINANCIAL -- In 3Q 2018, Raiffeisen Bank Aval earned a profit sized UAH 1, 318 million, and from the beginning of the year the bank’s profit has amounted to UAH 4,071 million on an accrual basis.

In January-September 2018, the bank received UAH 5,248 million of net interest incomes, what is by 24.2 per cent more in comparison with the results for the same period in the previous year. The bank’s net commission incomes has amounted to UAH 1,794 million for the first nine months of 2018 (UAH 1,692 in January-September of 2017).

The assets of Raiffeisen Bank Aval have increased by 7.5 per cent and reached UAH 71,246 million by the third quarter 2018 results, of which UAH 45,783 million were customer loans (an increase by 24.3 per cent since the year beginning).

The bank’s obligations were UAH 60,697 million as at 30 September 2018 (9.6 per cent growth as compared to the results as at the end of 2017).

Raiffeisen Bank Aval has a sufficient capital base (UAH 10,549 million as at 30 September 2018) and good liquidity. The capital adequacy ratio of the bank was 17.16 per cent at the end of September (at the NBU required minimum of 10 per cent).

Raiffeisen Bank Aval was founded on 27 March 1992. Since October 2005, the bank has become part of the Austrian banking group Raiffeisen Bank International AG. As at 30 September 2018, Raiffeisen Group owned 68.27 per cent of the shares of the bank, and the European Bank for Reconstruction and Development hold 30 per cent of the bank’s stock.

Raiffeisen Bank Aval offers a wide range of services to above 2.5 million clients through its nation-wide regional network of over 500 branches all around Ukraine as at the end of September 2018.