Raif's profit amounted to more than UAH 3 billion for third quarter
Raiffeisen Bank Aval has been showing positive dynamics of its financial performance in January-September 2020. During the 3rd quarter this year bank has made a profit of UAH 1.05 billion. The cumulative total profit of the bank turned UAH 3.12 billion from the beginning of the year. This result is one of the best among Ukrainian banks as during previous periods.
Since the beginning of the year, Raif`s net interest incomes have amounted to UAH 5.5 billion, which is 3.5% more than in the same period last year. The bank`s net commission incomes in January-September 2020 have reached UAH 1.89 billion (2.6% compared to September 30, 2019).
For 9 months of 2020 the bank`s assets has significantly increased — to 103.16 billion UAH as at September 30 (growth of 24.6% compared to December 31, 2019). Meanwhile the customers` loans have constituted UAH 44.08 billion (decrease of 7.4% since the beginning of 2020).
At the end of September 2020, the bank`s liabilities have increased by 30.8% compared to December 31, 2019 — up to UAH 91.27 billion including 26.14% of the increase in clients` funds — up to 84.19 billion UAH.
Raiffeisen Bank Aval traditionally has enough capital base (as at September 30, 2020, the bank's capital has reached UAH 11.89 billion) and good liquidity position. The bank`s capital adequacy ratio stated 16.61% at the end of September this year (with NBU required minimum 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 September 2020, Raiffeisen Group owned 68.27 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.