FUIB finishes 9 months of 2013 with profit of UAH 302 million

The net profit of First Ukrainian International Bank (FUIB) for 1-3Q2013 is UAH 302.1 m, which is 55.2% up year-over-year (UAH 194.7 m).

The Bank’s profit grew through 14.5% year-over-year increase in its net interest income to UAH 1361.3 m; 30.0% growth in the net fee and commission income to UAH 351.2 m; 13.5% decrease in the operating expenses to UAH 706.8 m.

Over 1-3Q2013 the Bank’s assets grew by 23.8% to UAH 35.0 bn. The (gross) loan portfolio grew by 8.4% to UAH 22.5 bn. As of 30.09.2013 the corporate loan portfolio was USD 16.9 bn; the retail loan portfolio, UAH 5.6 bn.

Year-to-date the customer accounts increased by 29.0% to UAH 22.5 bn: the corporate accounts grew by 50.3% to UAH 11.0 bn; the retail accounts, by 13.6% to UAH 11.5 bn.

The equity of FUIB grew by 7.5% to nearly UAH 4.5 bn as of 30 September 2013.

“FUIB achieved significant profit growth due to concentrating on strategic directions. The Bank has introduced a number of new lending products for all customer segments and significantly enhanced the sales channels efficiency. The high growth in the corporate accounts over the third quarter is explained by the inflow of funds in accounts of several of our key corporate customers. Nevertheless, even without taking them into account, growth in the customer accounts is significant and totals +13% or UAH 2.3 bn. FUIB is to continue its policy of active lending to both corporate and individual customers, while maintaining the loan portfolio high quality,” Sergey Chernenko, Chairman of the Management Board of FUIB, commented on the Bank’s financial performance results.