Over UAH 2 bn profit received and UAH 425 mn taxes paid by Raiffeisen Bank in Q1 of 2023
The net profit of Raiffeisen Bank based on the results of the 1st quarter of 2023 reached UAH 2 090 mn*. This is UAH 2 204 mn higher compared to the losses of UAH 114 mn for the same period of 2022 (at the start of the war the bank granted the customers beneficial account servicing conditions, zero commission fees, credit holidays, etc).
The income of Raiffeisen Bank for Q1 of the current year was UAH 5 343 mn compared to UAH
3 222 mn one year earlier (+65.8%).
The bank’s assets as of March 31, 2023, reached UAH 168 bn, increasing by UAH 2.1 bn or 1.3% year- to-date. The liabilities amounted to UAH 151.3 bn (+0.4% year-to-date).
Raiffeisen Bank has been one of the leaders in terms of the volume of the Ukrainians’ savings for many years in a row. In particular, the legal entities’ funds as of the end of Q1 of 2023 amounted to about UAH 87 bn and grew by UAH 21 bn or 32% year-on-year, the private individuals’ funds were UAH 57 bn and grew by UAH 9.2 bn or 19% year-on-year.
The number of Ukrainians that continue using Raiffeisen Bank’s services despite migration within the country and abroad is evidence of confidence in the bank. High service level at Raiffeisen Bank is valued by businesses as well. The corporate business customers amount to over 13.3 thousand (+500 customers year-on-year) out of the total 2.9 mn of the bank’s customers. The number of active users of the bank’s services among the private individuals has considerably increased – by 90 thousand or 4% year-on-year.
The amount of taxes paid by Raiffeisen Bank to the State Tax Service of Ukraine in January-March 2023 was UAH 424.8 mn, which also significantly supported the country.
As always, the bank fulfils the requirements of the National Bank of Ukraine at a steadily high level. As of the end of March 2023, the capital adequacy level of Raiffesien Bank was 21.1 % while the minimum requirement was 10%, and tier one capital adequacy was 15.5% against the minimum requirement of 7%.
* according to the International Financial Reporting Standards
