Raiffeisen Bank Aval' : Aval reports H1 2016 profit of about UAH 1.5 billion

18.08.2016

Кyiv. 18 August. - Raiffeisen Bank Aval continues its profitable growth: in Q2 2016, the bank generated a net profit sized UAH 773 million. Since the beginning of the year, the bank's net profit has amounted to UAH 1,456 million on an accrual basis being the best result among Ukrainian financial institutions.

The bank demonstrates good results in terms of the incomes received. Particularly, the net interest incomes of Raiffeisen Bank Aval in January-June 2016 amounted to UAH 2.4 billion, what is by 23.7 per cent more in comparison with H1 2015. The bank also received UAH 829 million of net commission incomes in H1 2016 (2.5-percent growth as against the same period in 2015).

'Our bank's high capital adequacy ratio and reliability, as well as systematic improvement of the efficiency of our processes have become the important factors of a customer inflow in 2015 and in 2016', stated Volodymyr Lavrenchuk, CEO of Raiffeisen Bank Aval. 'We have a good funding price for our transactions, and the quality of our new loan portfolio, starting from 2010, has been high enough, what permits the bank to reduce its reserves', he added.

From the beginning of the current year, the assets of Raiffeisen Bank Aval have increased by 4 per cent and achieved UAH 53.3 billion as at the end of June, including customer loans sized UAH 24.8 billion.

The liabilities of the bank have increased by 1.3 per cent reaching UAH 45.6 billion.

Raiffeisen Bank Aval has a sufficient capital and a good liquidity basis. The bank's own capital has increased by UAH 1.5 billion or by 23.2 per cent since the year-beginning and amounted to UAH 7.7 billion as at 30 June 2016. The capital adequacy ratio of the bank is 19.04 per cent (with the required minimum capital ratio of 10 per cent).

Raiffeisen Bank Aval was founded on 27 March 1992. Since October 2005, the bank has become part of the Austrian banking group Raiffeisen Bank International AG. As at 30 June 2016, Raiffeisen Group owned 68.28 per cent of the shares of the bank, and the European Bank for Reconstruction and Development hold 30 per cent of the bank's stock.

Raiffeisen Bank Aval offers a wide range of standard and innovative services to above 2.6 million clients through its nation-wide regional network of 571 branches in large cities and regional centers all around Ukraine as at the end of June 2016.