State-owned Oschadbank (Kyiv) in January-June 2017 increased net profit by 22% compared to the corresponding period last year to 306 million, according to a press release from the Bank.
Operating income increased by 20.3% and amounted to 4.7 billion UAH.
The Bank’s assets for the six months increased by 4.6% to 220,3 billion. Loan and investment portfolio increased by 3.9% to 149.2 billion. Equity for the first half increased by 64,3%, to UAH 25.9 billion. The adequacy of the regulatory capital of the Bank amounts to 12.4% with the regulatory requirement of not less than 10% .
According to the report, activities of the Bank in the first half of 2017 was aimed at implementation of development strategy and roadmaps of transformation under the strategic cooperation agreement between Oschadbank and the European Bank for reconstruction and development (EBRD), to ensure competitive positions in the Ukrainian banking market by key indicators by improving profitability, operating efficiency and quality of services.
“Sberbank continues to show the largest banks of Ukraine increase of time deposits of individuals, Reaffirming the status of the leader of the market of 5.6 billion UAH. Realizing the importance of a gradual recovery in lending and the significant role of reducing the cost of lending in this recovery, Oschadbank has consistently pursued a policy aimed at cheapening of its own resource base. This interest rate policy has made it possible for Oschadbank to reduce lending rates for enterprises of Ukraine, including those, which are of fundamental importance for the economy of the country”, – the press service quoted the Bank’s Chairman of the Board oschadbanka Andrew Lush.
Oschadbank was founded in 1991. Its sole owner is the state.
According to the national Bank of Ukraine, April 1, 2017 to total assets (226,9 billion) Oschadbank ranked second among the 90 operating in the country banks.