Raiffeisen Bank Aval gained more than UAH 2 bn profit for the first half of 2020
11.08.2020 13:45 "Agro Perspectiva" (Kyiv) —
From the beginning of the year 2020, Raiffeisen Bank Aval has been demonstrating positive dynamics in financial indicators. In 2Q 2020, the bank gained profit sized UAH 1.03 bn, and since the year beginning, the cumulative revenue of the bank has amounted to UAH 2.07 bn. Such indicator is one of the best results in the banking system of Ukraine.
«In spring 2020, we found ourselves in extraordinary conditions. The pandemic has dramatically changed the life in our country and in the whole world, said Oleksandr Pysaruk, Chairman of the Board of Raiffeisen Bank Aval. Our bank has been successfully coping with `new challenges of the current time, staying an efficient and profitable institution with a great safety margin.
Despite the difficult situation, our team’s common efforts have allowed us not only to provide a smooth operational activity of the bank and uninterrupted service of our clients, but also to bring a number of modern banking products onto the market. We continue active development of our digital channels and offering new client service solutions, as our goal is to be more convenient and close to our clients».
Net interest incomes of Raiffeisen Bank Aval were UAH 3.72 bn in January-June 2020, what is by 5.3% more than in the same period of the previous year. For the first two quarters, the bank has received net commission incomes amounted to UAH 1.2 bn (5.9% growth as compared with the result as of 30 June 2019).
Raif assets have increased significantly to UAH 97.2 bn as at 30 June this year in comparison with UAH 82.8 bn as at the end of the previous year (17.4% growth), including customer loans that made UAH 44 bn as of the end of June 2020 (a decrease by 7.1% comparing with the end of June 2019).
Liabilities of the bank have increased by 17.6% in comparison with 31 December 2019, up to UAH 82.1 bn. Meanwhile, customer funds have increased to UAH 79.12 bn (18.5% growth for the first six months of 2020).
As in prior periods, Raiffeisen Bank Aval has a sufficient capital base (as at 30 June 2020, the bank’s capital amounted to UAH 15.14 bn) and a good liquidity position. The capital adequacy ratio was 22.62% as of 30 June 2020 at the NBU required minimal level of 10%).
Raiffeisen Bank Aval JSC 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 2020, 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 banking services to 2.5 million clients through its nation-wide regional network of about 453 branches all around Ukraine.