The FINANCIAL — Raiffeisen Bank Aval continues its profitable growth: in 3Q 2016, the bank received a net profit sized almost UAH 1.07 billion.
Since the beginning of the year, the bank’s net profit has amounted to more than UAH 2.5 billion on an accrual basis, what is almost 2.5 times more than for 9 months in 2015, according to Raiffeisen Bank.
Net interest incomes of Raiffeisen Bank Aval in January-September this year amounted to nearly UAH 3.61 billion, what is by 23 per cent more in comparison with the same period in 2015. The bank also received above UAH 1.35 billion of net commission incomes (8,4 per cent growth as compared to the results for 9 months of the previous year).
As at 30 September 2016, the assets of Raiffeisen Bank Aval have increased to almost UAH 51.7 billion, of which UAH 25.5 billion were customer loans. The bank’s obligations were nearly UAH 42.9 billion.
“An important factor is that the bank’s profitability for 9 months 2016 was attributed to not only one successful transaction. That was the result of our efforts for the recent years, directed at reorganizing business processes to improve productivity and provide efficient cash flow management”, noted Volodymyr Lavrenchuk, CEO of Raiffeisen Bank Aval.
Raiffeisen Bank Aval, as in the prior reporting periods, has a sufficient capital base and good liquidity. The own capital of the bank exceeded UAH 8. 79 billion, having increased by above UAH 2.52 billion or 40.3 per cent since the year beginning. The capital adequacy ratio of the bank was 23.34 per cent at the end of September (at the 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 2016, Raiffeisen Group owned 68.28 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 standard and innovative services to above 2.5 million clients through its nation-wide regional network of 582 branches in large cities and regional centers all around Ukraine as at the end of September 2016.
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