Over 2012 FUIB remained profitable and continued to enhance its operating efficiency, having increased its Operating Income by USD 34.4 m to USD 204.4 m.
“Despite the financial markets volatility throughout 2012, FUIB team demonstrated outstanding performance results in the loan and retail deposit portfolios growth, earning the profit of USD 35 million and strengthening the ratios of return on assets and equity before provisions. As one of the TOP 10 banks we aim at becoming the best bank in the system by performance efficiency and service quality and remain one of the most reliable universal banks,” Sergey Chernenko, Chairman of the Management Board of FUIB, comments on the Bank’s financial performance results.
Performance results of First Ukrainian International Bank (FUIB) as of 31 December 2012:
Profit before provisions and taxes equal to USD 86.0 m (up 14.5% YOY)
Net profit equal to USD 34.7 m (down 38.5% YOY)
Net assets at USD 3.4 bn (down 7.3% YOY)
Loan portfolio at USD 2.6 bn (up 8.4% YOY)
Customer accounts at USD 2.2 bn (down 13.0% YOY)
Equity at USD 633.1 million (up 4.7% YOY)
Return on assets (ROA) before provisions and taxes equal to 2.6% (2.3% as of 31 December 2011)
Return on equity (ROE) before provisions and taxes at 14.1% (13.6% as of 31 December 2011)
Net interest margin at 5.4% (5.2% as of 31 December 2011)
Structural ratios (average balance sheet):
Net loan portfolio/Deposits at 98.7% (93.4% for 2011)
Customer accounts/Liabilities equal to 78.9% (75.5% for 2011)
Asset quality ratios:
Provisions/ Impaired loans increased to 55.0% (49.3% as of 31 December 2011)
Capital adequacy ratios:
CAR (Basel) of 23.5% (25.3% as of 31 December 2011)
CAR (NBU) of 17.6% (15.9% as of 31 December 2011)
As of 31 December 2012 the Bank’s assets amount to USD 3447.4 million, which is 7.3% down year-over-year. The loan portfolio increased by 8.4% to USD 2626.4 million. The corporate loan portfolio of FUIB grew by 6.0% to USD 1925.4 million, while the corporate loans in the banking system increased by merely 4%. FUIB’s retail loan portfolio increased by 15.6% to USD 701 million, significantly outperforming the banking system (the volume of retail loans declined by 7% over 2012 on average as repayments exceeded new loans).
As of 31 December 2012 the Bank’s customer accounts constituted USD 2203.3 million, which is 13% down year-over-year mainly due to outflow of ‘hot’ corporate client funds in the 1st quarter of 2012 (this was the main contributor to the corporate accounts going down by 36.2% to USD 923.3 million). The retail accounts increased by 18.1%, and the retail deposit portfolio grew to over USD 1 billion.
Over the year the FUIB’s equity grew by 4.7% to USD 633.1 million. The capital adequacy ratio, calculated in accordance to the Basel Committee on Banking Supervision (CAR Basel) methodology, stands at 23.5%, which is three times above the norm (8%).
FUIB’s 2012 profit before provisions and taxes of USD 86.0 million is 13.0% up year-over-year due to 17.3% growth in the Bank’s net interest income and 20.3% growth in the net fee and commission income of USD 143.9 million and USD 38.5 million respectively.
Pursuing the conservative risk management policy and taking into account the uncertainty in international and local markets, FUIB increased the provisions for lending operations by 383.8%, which lead to 38.5% decline in the net profit to USD 34.7 million.
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