Raiffeisen Bank received UAH 5.2 bn net profit and paid UAH 1.65 bn taxes during 8 months of the year

Based on the performance results in January-August 2023 net profit of Raiffeisen Bank constituted UAH 5.2 bn*.

Gross income of Raiffeisen Bank for eight months of 2023 constituted UAH 14.1 bn in comparison with UAH 10.6 bn in the previous year (+33%).

The amount of taxes and duties paid by Raiffeisen Bank in January-August 2023 was

UAH 1.65 bn.

As of August 31, 2023, the Bank’s assets reached UAH 180.3 bn, having increased by UAH 14.4 bn or 9% since the beginning of the year. Liabilities constituted UAH 158.3 bn and increased by UAH 9 bn or 6% since the beginning of the year.

In January-August 2023 the bank has disbursed new loans for UAH 65 bn, out of which UAH 44.6 bn – to the industries that are critical for the country (agriculture, retail trade, pharmaceutics, and fuel supply).  The Bank continues supporting agrarians, this direction remains the key priority of Raif – since the beginning of the year the Bank has disbursed new loans to the agrarians for almost UAH 18.5 bn.

Ukrainians keep trusting Raiffeisen Bank and continue using its services despite the forced relocation within Ukraine and abroad, as well as economy reduction. As of the end of August corporate customers constituted 12.6k out of total 2.9 million customers of the Bank. The number of active users of the bank’s services significantly increased among PI customers by 99 thousand or +4.3% year-on-year.

Raif supports the country during the war also due to the investments in the state securities – during 8 months of 2023 the bank increased domestic government bonds portfolio by UAH 10 bn. The total volume of domestic government bonds portfolio of Raiffeisen Bank as of the end of August constituted UAH 24.5 bn, which is the biggest portfolio after the state banks.

As at August 2023 the volume of customers’ funds in Raiffeisen Bank amounted to UAH 163 bn and grew by UAH 13 bn or 8% since the beginning of the year.

As always, the bank fulfils the requirements of the National Bank of Ukraine at a steadily high level. As of the end of August 2023, the capital adequacy level of Raiffeisen Bank was 26.30% while the minimum requirement was 10%, and tier one capital adequacy was 18.89% against the minimum requirement of 7%.

* according to the International Financial Reporting Standards