UKRGASBANK MADE NET PROFIT OF OVER UAH 108 MILLION IN 3Q2012
Profit of the bank before impairment provisions and taxes was UAH 356.1 million, which is 78.6 million (28.3%) more compared to the respective period a year before.
Assets of the bank totaled UAH 19.9 billion as of 01.10.2012, posting a 10% growth since YE2011.
Corporate loans increased by UAH 600 million (or 6.3%) in 3Q2012.
Retail loans rose by UAH 277 million (or 11%) over the same period. The bank’s active participation in the state program “Affordable Mortgage” facilitating cheaper mortgage loans substantially contributed to the growth. 504 loans for the total of UAH 116.5 million had been issued by 11.10.2012. The program is implemented in all regions of Ukraine (about 7 loans are issued each day; the average loan amount is UAH 231 thousand).
Amounts due to customers reached UAH 7 billion as of 01.10.2012 (1.6% growth in 3Q2012 and 23% growth for 9 months 2012). Amounts due to retail customers totaled UAH 4.7 billion (growth of 0.1% in 3Q2012), amounts due to corporate customers made UAH 2.1 billion (5.2% growth).
Regulatory capital of Ukrgasbank increased by UAH 108.9 million in 3Q2012 totaling UAH 3.0 billion.
Return on assets was 2.0% as of 01.10.2012; return on equity — 13.3%.
Mr Sergii Mamedov, Chairman of the Board of Ukrgasbank commented the results of the third quarter as follows:
“The results of the third quarter confirm the well-balanced business strategy of the bank. Over a short period of time the management of the bank has quite substantially improved profitability of the bank. The bank has been maintaining leading positions in the banking system of Ukraine in terms of profit growth for several months in a row. Profit of the bank in 3Q2012 was 23% higher compared to 2Q2012 result. However, the growth of the amounts due to customers that reached UAH 7 billion is the strongest confirmation. This attests to the trust the customers place with us as a stable nation-wide financial institution that may be entrusted with customer savings”, emphasized Mr Mamedov.
For reference: Ukrgasbank ranks 5th by share capital and 16th by assets as of 01.07.2012. The bank has 231 points of sales, 567 own ATMs, 1025 in-house and retail POS-terminals and 11 self-service kiosks.