First Ukrainian International Bank (FUIB) has published the consolidated financial statements of FUIB Banking Group (hereafter Group) under International Financial Reporting Standards (IFRS). From 2013, the Group consists of PJSC “FUIB” and PJSC “BANK “RENAISSANCE CAPITAL”, 100% of equity capital in which FUIB acquired on 12 January 2013.
“Over 2013 the Group earned a half billion hryvnia net profit and demonstrated record efficiency, having improved its ROE and ROA. We attracted 19.2% more deposits and increased the loan portfolio by 14.8%, thus improving the ratio of our business volume to capital. Despite the complicated economic and political situation in the country, we ensure high quality service to all of our customers and remain one of the most reliable banks,” says Sergey Chernenko, Chairman of the Management Board of FUIB.
Over the year 2013 the Group demonstrated high efficiency, which is confirmed by its performance results.
Performance results of the Group as of 31 December 2013:
- Profit before provisions and taxes at UAH 1 241.7 m (UAH 745.7 m in 2012);
- Net profit at UAH 554.8 m (UAH 277.2 m in 2012);
- Assets at UAH 32 158.7 m (UAH 28 003.5 m in 2012);
- Loan portfolio at UAH 24 592.1 m (UAH 21 416.8 m for 2012);
- Customer accounts at UAH 21 067.6 (UAH 17 680.8 m in 2012);
- Equity at UAH 5 571.5 m (UAH 5 324.8 m for 2012).
- Return on assets (ROA) grew by 0.8% to 1.8% (1.0% in 2012);
- Return on equity (ROE) grew by 4.9% to 10.2% (5.3% in 2012);
- Net interest income grew by 1.4% to 6.8% (5.4% in 2012).
Structural ratios (balance sheet average):
- Loan portfolio/Deposits at 103.6% (92.5% for 2012);
- Customer accounts/Liabilities at 78.7% (79.7% for 2012);
- Current accounts/Total customer accounts at 39% (45.4% for 2012).
Capital adequacy ratios:
- CAR (Basel) at 21% (24.4% as of 31 December 2012);
- CAR (NBU) at 12.3% (18.4% as of 31 December 2012).
For the year 2013 the Group’s assets were UAH 32 158.7 million, which is 14.8% up year-over-year. The loan portfolio of the Group was up by 14.8% to UAH 24 592.1 million. The corporate loan portfolio of the Group grew by 15.4% to UAH 17 765.9 million. The retail loan portfolio of the Group grew by 13.3% to UAH 6 826.2 million.
As of 31 December 2013 the customer accounts were UAH 21 067.6 million, which is 19.2% up year-over-year. The retail accounts increased by 10.4%, and the corporate accounts grew by 31.3% to UAH 9 704.3.
Over the year the Group’s equity grew by 4.6% to UAH 5 571.5 million. The capital adequacy ratio, calculated as recommended by the Basel Committee on Banking Supervision (CAR Basel), was 3.4%, down to 21.0% from 24.4% for 2012.
The Group’s 2013 profit before provisions and taxes increased by 66.5% up year-over-year to UAH 1 241.7 million due to 35.1% growth in the Bank’s net interest income and 40.7% growth in the net fee and commission income of UAH 1 725.1 million and UAH 775.1 million respectively.
Pursuing the conservative risk management policy and taking into account the uncertainty in international and local markets, over 2013 the Group increased the provisions for lending operations by 73.7%. The 2013 total income of the Group grew by 30.7% to UAH 2 630.4 million, while its net profit doubled to UAH 554.8 million.
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