First Ukrainian International Bank (FUIB) has published its 2012 annual report under International Financial Reporting Standards (IFRS). The report titled “New Quality” sums up the Bank’s performance results for 2012 and presents strategic highlights and outlook. This modern online annual report is in line with the best international reporting practices and is available at the Bank's web site.
In the report, FUIB presents its financial performance results for 2012, which are stably high despite the deceleration of economic growth of Ukraine. The Bank strengthened its positions in the top-10 banks in Ukraine and earned the profit before provisions of USD 86 m, which is 13% up year-over-year. FUIB net profit was USD 34.7 m. The Bank’s portfolio quality and level of provisioning remain among the best in the country, while the loans/deposits ratio stands at 98.7%, which is unique in Ukraine’s banking industry.
“Throughout 2012 FUIB remained one of the most efficient banks – its ROE and ROA before provisions of 2.6% and 14.1% are still among the best ones in the Ukraine’s banking system,” says Ilya Arkhipov, Chairman of the Supervisory Board of FUIB.
Record growth in the retail deposits and increase in the corporate portfolio of FUIB confirm high confidence of retail and corporate customers in the Bank. The corporate business made the profit of USD 53.4 m, increased its operating income by 21%, while the profit of the retail business totalled USD 2.6 m.
Last year FUIB adjusted its development strategy in line with market developments. The main strategic focuses of the Bank remain unchanged. FUIB will continue to develop as a universal bank via growing banking operations for small and medium enterprises, and increasing the share of retail banking in the profit of the bank. The bank will continue to enhance operating efficiency, which will provide for excellence of service to the customers.
“Our strategic goal is not merely to grow by scale, but to become the best bank by operating efficiency and service excellence,” says Sergey Chernenko, Chairman of the Management Board of FUIB.
In 2013, FUIB published its Annual Report for 2012 in an online format on its website, which provides its stakeholders with access to both the traditional PDF version and the interlinked html version. FUIB does not produce a printed version of the Annual Report to save natural resources. Any stakeholder wishing to print the report can do it by using the high-resolution PDF version available on FUIB website.
“The Annual Report titled “New quality” talks about the changes FUIB makes to enhance efficiency and service quality for our clients. These changes touch upon every area of FUIB, even the development of Annual Reports. We proudly pioneer this user-friendly online annual report format in Ukraine. Now any stakeholder on the globe interested in this information can access it in English, Russian or Ukrainian on our website,” says Yuliya Sobko, head of corporate communicationsof FUIB.
Full version of the FUIB’s 2012 Annual Report “New Quality” is available at http://pumb.ua/en/annual_report/
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