Ukrgasbank Achieves 1.9 Billion UAH Profit in First Quarter 2024

Ukrgasbank's performance in the first quarter of 2024 demonstrates its active efforts in enhancing operational efficiency, ensuring financial stability, and complying with regulatory requirements.

For the first three months of 2024, the Bank reported a profit of UAH 1.9 billion, which is UAH 0.5 billion more compared to the same period in 2023. Operating profit amounted to UAH 1.6 billion, nearly UAH 0.9 billion more than the result for the same period in 2023.

Thanks to the prudent policy on asset and liability management, the Bank demonstrated the following financial results (annualized):

Return on equity (ROE) – 61.9%;
Return on assets (ROA) – 4.4%;
Net interest margin (NIM) – 5.9%;
Cost-to-income ratio (CIR) – 42.6%;
Regulatory capital adequacy ratio – 15.3% (according to the 02X statistic reporting file).

Ukrgasbank continues to provide financing to Ukrainian businesses.

In particular, the Bank is:

among the top three leaders under the "Affordable Loans 5-7-9%" state program (investment lending) and state guarantees on a portfolio basis;
the largest creditor of exporters under the ECA portfolio insurance program;
leader in trade finance;
a leader in financing energy-efficient projects under the "Add Energy to Your Business" program, implemented by the Business Development Fund under the support of the German Government, KfW, and the European Union within the EU4Business initiative;
one of the drivers of mortgage lending under the state program eOselia, having provided Ukrainians with mortgage loans totaling over UAH 3.7 billion;
was the first to collaborate with the Partial Credit Guarantee Fund in agriculture.

03.05.2024

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