JSB “Ukrgasbank” has summarized its financial results for November 2012. Net profit of the bank for the previous month made UAH 596.5 million; UAH 1.1 billion since YE2011. It is the highest financial result for the corresponding reporting period in the entire history of the financial institution.

Interest income of the bank amounted to UAH 191 million in November, which is UAH 5 million (3%) above the planned figure. Total interest income accumulated since YE2011 is UAH 1.98 billion, which is UAH 76 million (4%) above the planned result.

Profit before impairment provisions and taxes made UAH 37.8 million in November, UAH 436.6 million since YE2011. It is UAH 53.8 million (14%) more compared to the 11 months of 2011.

Assets of the bank totaled UAH 20.4 billion as of 01.12.2012 posting a growth of 12% from the beginning of the year.

Retail loan portfolio grew by UAH 68 million (2.4%) in November; UAH 430 million (17%) increase since YE2011.

Amounts due to retail customers totaled UAH 4.9 billion as of 01.12.2012 posting a growth of UAH 147.2 million (3%) in November; UAH 572.2 million (13%) growth from the beginning of the year.

As a result of the bank’s collection efforts the portfolio of overdue loans reduced by 9%.

Shareholders’ equity totaled UAH 3.83 billion as of 01.12.2012; UAH 0.58 billion (18%) growth in November and UAH 1.03 billion (37%) growth since YE2011.

“Net profit of UAH 1.1 billion from the beginning of the year is not just a record result. It is more than the total accumulated profit of Ukrgasbank and its direct predecessors, — noted Mr Stanislav Shlapak, First Deputy Chairman of the Board of JSB “Ukrgasbank”. Last year the bank has proven its stability, this year the bank is among the most profitable banks in the Ukrainian market. Today a share of Ukrgasbank’s profit in the total result of the banking system of Ukraine is in excess of 10%. I believe, Ukrgasbank shall become the most profitable bank ROE-wise by the results of this year.

In respect of the plans for the near future, the banker has commented as follows:

“Taking into account an ambiguous economic situation in the world financial markets, Ukrgasbank will be growing steadily pursuing a weighted risk-management strategy”.

For reference: JSB “Ukrgasbank” ranks 5th by share capital and 15th by assets in the Ukrainian market according to the 3Q 2012 results. Its assets growth rate was 4 percentage points higher than that of the entire banking system of Ukraine (according to NBU data).

According to the rating research conducted by Korrespondent Magazine and Dragon Capital Investment Company, JSB “Ukrgasbank” is among the TOP-10 most reliable Ukrainian banks with the highest liquid assets to total assets ratio (46%) among the rated institutions. Also, JSB “Ukrgasbank” is No.6 among the banks that have shown the most dynamic development in 3Q 2012 according to RBC-Ukraine news agency.

Network of JSB “Ukrgasbank” includes 231 sales points; 569 own ATMs, 1,101 POS terminals and 12 self-service kiosks as f 01.12.2012.