First Ukrainian International Bank announces its performance results for 9 months 2012 according to International Financial Reporting Standards (IFRS).
Performance results of First Ukrainian International Bank (FUIB) at 30 September, 2012:
- Net profit is US$ 28.3 million;
- Total net assets accounted for US$ 3,441 million;
- Gross loan portfolio is US$ 2,583 million;
- Customer accounts accounted for US$ 2,218 million;
- Capital is US$ 627 million.
- Return on assets (ROA) before provisioning and taxes up to 2.6% (2.2% at September 30, 2011);
- Return on equity (ROE) before provisioning and taxes up to 14.0% (13.9% at September 30, 2011);
- Net interest margin up to 5.2% (4.9% as of 30 September 2011).
Structural ratios (average balance sheet):
- Net Loans/Customer deposits is 98.1% (93.4% in 2011);
- Customer deposits/ Liabilities is 79.0% (75.5% in 2011).
Asset quality ratios:
- High level of NPL coverage of 76.2% (79.4% at December 31, 2011).
Capital adequacy ratios:
- CAR (Basel) at a very high level of 26.9% (26.8% at December 31, 2011);
- CAR (Basel) Tier 1 is 20.8% (20.3% at December 31, 2011);
- CAR (NBU) is 16.6% (15.9% at December 31, 2011).
Over the reporting period FUIB’s net profit amounted to US$ 28.3 million. The profit before provisions and taxes of US$ 64.7 million is up by 12.2% year-to-year. This result is backed by growth in the net interest income and net fee and commission income, which amounted to US$ 104.4 million and US$ 27.0 million respectively.
As of 30 September 2012 the Bank’s assets grew by 6.4% year-to-year to US$ 3,441 million. The loan portfolio is up by 8.7% to US$ 2,583 million mainly as a result of 21.2% growth in the retail loan portfolio to US$ 686 million and 4.8% growth in the corporate loan portfolio to US$ 1,898 million. Over the reporting period FUIB increased by 54.2% the share of UAH deposits in its portfolio.
The customer accounts are 8.6% up year-to-year to US$ 2.2 billion, which is mainly due to 17.5% increase in the retail accounts to US$ 1,234 million. Even considering UAH liquidity deficit at the banking market during 9 months of 2012 FUIB managed to outperform the market in terms of UAH deposit portfolio growth (18.8% versus the market average of 13.2%).
FUIB’s equity amounted to US$ 627 million. The CAR (Basel) is 26.9%, which is significantly above its normative (8%).“FUIB’s reliability and efficiency indicators for 9 months are among the strongest in the banking industry. The Bank enhanced its liabilities structure through substitution of loans from foreign banks with customer accounts and early repayment of the syndicated loan raised in October 2010. We focus on enhancement of our operating efficiency and customer service excellence. I am confident that customer service quality will soon become of the key criterion for choosing a bank,” Sergey Chernenko, Acting Chairman of FUIB’s Management Board, comments on the Bank’s performance results.
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