Raiffeisen Bank declared UAH 4.8 bn net profit and UAH 6.6 bn taxes and duties for 2023
Raiffeisen Bank Ukraine finished 2023 with UAH 4.8 bn net profit, which is almost 3 times more than the profit for 2022, which constituted UAH 1.6 bn.
At the same time Raiffeisen Bank will pay UAH 6.6. bn of taxes and duties for 2023 to the budgets of all levels, including UAH 4.98 bn of profit tax, which is a record amount for the years of the bank’s operations on the market.
As of December 31, 2023, the Bank’s net assets were UAH 189 bn, having increased by 13.7% in comparison with 2022. The Bank confidently holds 4th place in the banking system in terms of this indicator.
In 2023 Raiffeisen Bank became the biggest foreign owned lender to the Ukrainian economy. Despite temporary suspension from the state program “Affordable loans 5-7-9%”, the bank disbursed new loans for the amount of UAH 116.8 bn, most of which (UAH 78.39 bn) to industries that are critical for the country during the martial law - agriculture, logistics and retail trade, fuel supply and pharmaceuticals. The Bank is traditionally the leader in lending to agriculture sector: the bank disbursed during the last year UAH 32.64 bn of new loans for the sowing campaign, harvesting and investment projects in this area. Despite the second year of the war, the share of non-performing assets of Raif did not significantly change in comparison with 2022 and constituted 15.5%.
Raiffeisen Bank supports the country during the war also due to the investments in the state securities – in 2023 Raif increased domestic government bonds portfolio by almost UAH 11 bn. The total volume of domestic government bonds portfolio of Raiffeisen Bank reached UAH 25 bn, which is one of the biggest portfolios among the banks.
The volume of customers’ funds in the Bank as of the end of 2023 reached UAH 158.6 bn, having increased by UAH 15 bn or 10% during the year, which proves one more time that customers trust Raiffeisen Bank even under the conditions of the war.
The dynamics of the customer base also confirms that the customers trust the Bank – in 2023 the number of active customers increased by 42k up to 2.65 bn.
Raiffeisen Bank remains the leader on the Ukrainian market in terms of the cash foreign currency delivered to Ukraine. In 2023 we delivered by 1.3 times more cash foreign currency in comparison with the previous record 2022 year, due to the support of Raiffeisen Group.
The Bank is adequately capitalized and complies with all the ratios set by the National Bank of Ukraine. In particular, the capital adequacy ratio amounts to 22.06%, whereas the minimal ratio set by the regulator constitutes 10%. Net stable funding ratio was 198.9% in comparison with the norm of 100%.
Raiffeisen Bank kept its leading position among the Ukrainian banks in terms of the assistance provided to Ukrainians, which constituted UAH 1.3 bn for two years of the war.
* Preliminary results According to International Financial Reporting Standards (IFRS)
