FUIB doubled its profits in 2017

First Ukrainian International Bank (FUIB) completed 2017 with a net profit of UAH 785.8 million, which exceeds the figures of 2016 more than twice.

The operating income of the bank after reserves amounted to UAH 3.9 billion, which is 69% more than the figures of the year before. During 2017, FUIB has formed reserves in the amount of UAH 1.2 billion. This figure reduced slightly compared with 2016 and was exactly four times less than the amount of reserves which the bank began to make in post-crisis 2015.

Net operating profit to the reserves amounted to UAH 2.1 billion, exceeding the last year's figure of UAH 1.8 billion by 17%. In 2017, net interest income of FUIB amounted to UAH 3 billion and net commission income of UAH 1.3 billion.

In 2017, FUIB's assets amounted to UAH 46.5 billion. The portfolio of loans to corporate business totaled UAH 19.8 billion, while loans to individuals totaled UAH 5.7 billion.

"Due to the fact that in 2016 FUIB managed to solve the most acute issues – to reduce troubled assets, to make profit and to increase the liquidity cushion, in 2017 we were able to scale the business up. 2017 was a record in terms of new sales and portfolio growth. For example, we managed to increase consumer lending by 86%, as well as to significantly increase the loan portfolio in the SME segment – by 70%. The high financial indicators will allow the bank to continue the process of increasing the presence in the regions which was started in 2017 and further strengthen the position of FUIB", commented Serhiy Chernenko, FUIB's chairman of the Board.

According to the results of 2017, the bank's liabilities amounted to UAH 41.7 billion, which exceeds last year's figures by 1 billion. The Bank's equity increased by more than 20% and reached UAH 4.9 billion.

The cost to income of the bank at the end of 2017 amounted to 53%, and the margin to 7.4%. The level of bank's capitalization at the end of 2017 amounted to 11.8%, with the NBU norm of 10%.

The complete financial statements are available at www.pumb.ua