FUIB’s 9M 2012 Net Profit is 70% up according to IFRS

Performance results of First Ukrainian International Bank (FUIB) as of 30 September 2013 (year-over-year):

• Net profit equal to USD 48.2 m or 70.2% up;
• Net assets at USD 4.3 bn or 25.0% up;
• Loan portfolio at USD 2.8 bn or 8.7% up;
• Customer accounts equal to USD 2.9 bn or 30.2% up;
• Equity at USD 684.4 m or 9.1% up.

Efficiency ratios:

• Return on assets (ROA) before provisions and taxes up to 3.5% (2.6% for 9M2012);
• Return on equity (ROE) before provisions and taxes equal to 20.5% (14.0% for 9M2012);
• Net interest margin up to 5.9% (5.2% for 9M2012).

Structural ratios:

• Average net loan portfolio/Deposits down to 92.4% (98.1% for 9M2012);
• Average customer accounts/Liabilities equal to 77.7% (79.0% for 9M2012).

Asset quality ratio:

• NPL / Loans to customers dropped to 17.8% (19.5% as of 30 September 2012) following partial bad debt write-off and growth of high quality loans.

Capital adequacy ratios:

• Strong CAR (Basel) at 22.1% (26.9% as of 30 September 2012);
• CAR (NBU) at 15.0% (16.6% as of 30 September 2012).

The FUIB’s net profit for 9M2013 is USD 48.2 m or 70.2% up year-over-year (USD 28.3 m for 9M2012).

The growth in the net profit is due to year-over-year increase in the net interest income by 29.5% to USD 135.2 m, net fee and commission income by 46.8% to USD 39.6 m.

As of 30.09.2013 the Bank’s net assets are USD 4,301.6 m, which is 25.0% up year-over-year. The (gross) loan portfolio is up by 8.7% to USD 2,807.5 m: growth in the corporate loan portfolio (+10.0%) was higher than in the retail loan portfolio (+5.0%). As of 30.09.2013 the corporate loan portfolio was USD 2,087.4 m; the retail loan portfolio, USD 720.1 m.

The customer accounts grew by 30.2% to USD 2,888.4 m. Corporate accounts grew by 46.1% to USD 1,437.1 m; retail accounts, by 17.6% to USD 1,451.3 m.

The FUIB’s equity grew by 9.1% to USD 684.4 m as of 30 September 2013.

“During the first 9 months FUIB has achieved 70% growth in net profit due to increase in interest and fee and commission income. While the economy is slowing down the Bank has focused on improving the profitability of the corporate and retail banking, as well as control over operating costs. Return on assets and equity confirm that FUIB remains one of the most effective and safest banks in the market", - said Sergey Chernenko, Chairman of the Management Board, FUIB.