Since the beginning of the year Raiffeisen Bank financed new loans for UAH 48.2 bn and paid the taxes for UAH 1.1 bn
Gross income of Raiffeisen Bank for the first six months of 2023 constituted UAH 10.4 bn compared to UAH 7 bn in the previous year (+48%)*.
The operating income for June in the amount of UAH 1.1 bn, the bank increased portfolio’ provisions and based on the results of the first half of the year Raiffeisen Bank’s net profit constituted UAH 3 154 mn.
The amount of taxes paid by Raiffeisen Bank to the State Tax Service of Ukraine in January-June 2023 was UAH 1.1 bn, which also significantly supported the country’s economy.
As of June 30, 2023, the Bank’s assets reached UAH 172 bn, having increased by UAH 6 bn or 3.6% during the first half of the year. Liabilities constituted UAH 152 bn (+1.8% since the beginning of the year).
The dynamics of loans disbursement by Raiffeisen Bank reflects the existing demand for loans and the customer’s solvency. Since the beginning of 2023 the bank has disbursed new loans for UAH 48.2 bn, out of which UAH 32.6 bn – to the industries that are critical for the country (agriculture, retail trade, pharmaceutics and fuel supply). Support of agrarians remains one the key priorities of Raiffeisen Bank – during six months the Bank has disbursed new loans to the agrarians for almost UAH 13.5 bn, which helps to maintain the bank’s leadership in the cooperation with agrarians.
As of June 30, 2023, the bank formed provisions for UAH 14.6 bn. It shows that Raiffeisen Bank keeps following conservative approach to risks assessment during the unpredictable conditions of war.
At the same time, Raiffeisen Bank’s non-performing loans (NPL) ratio constituted 16.3% as of the end of June of the current year and remains one of the lowest in the market. It proves one more time good quality of the bank’s loan portfolio, as well as the efficiency of open communication and cooperation of the bank with the customers that helps to understand the current situation of each company and private individual.
Raiffeisen Bank supports the country under wartime conditions also by investments into government bonds – the bank increased government bond portfolio by almost UAH 10 bn during six months of 2023.
The volume of customers’ funds in Raiffeisen Bank continues to grow, which proves that customers continue trusting the Bank. In particular, as of the end of June 2023 funds of corporate business customers amounted to UAH 63.1 bn and grew by UAH 14 bn or 29% year-on-year, retail customer’s funds were UAH 81.6 bn and grew by UAH 11.2 bn or 16% year-on-year.
As always, the bank fulfils the requirements of the National Bank of Ukraine at a steadily high level. As of the end of June 2023, the capital adequacy level of Raiffeisen Bank was 25.38% while the minimum requirement was 10%, and tier one capital adequacy was 19.03% against the minimum requirement of 7%.
* according to the International Financial Reporting Standards
