First Ukrainian International Bank (FUIB) finished 2016 with a net profit of 367 million UAH. At the same time, bank’s operating profit amounted to 1.8 billion UAH. The bank reduced allocations to reserves more than 3.5-fold, from 4.8 billion UAH in 2015 to 1.3 billion UAH in 2016. According to the results of 2016, FUIB’s net interest income amounted to 2.1 billion UAH; and net commission income amounted to 0.98 billion UAH. Bank’s operating profit before provisions amounted to 3.6 billion UAH.
In 2016, FUIB’s assets amounted to 44.6 billion UAH, which is 18% more than the previous year figure, which amounted to 37.6 billion UAH. At the same time, bank’s corporate portfolio reached 21.3 billion UAH, and loans given out to individuals 3.4 billion UAH.
“In 2016 FUIB managed to buck the trend prevailing on the banking market – we got out of the red by significantly reducing reserves, and also built up a good “liquidity cushion”, which allowed FUIB to resume lending to the corporate sector. In addition, last year’s significant events included early repayment of the stabilization loan from the National Bank of Ukraine, as well as the fulfillment of the requirement for additional capitalization without additional inflow of funds due to the reduction of the need for capital as a result of new collateralization. All these factors indicate bank’s return to a “healthy” pre-crisis level of operation,” noted Serhiy Chernenko, FUIB’s Chairman of the Board.
According to the results of 2016, bank’s liabilities amounted to 40.5 billion UAH, exceeding the last year’s figure of 34.0 billion UAH by 19%. Equity of the bank increased by 10%, reaching 4 billion UAH. (SCM/Business World Magazine)
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