Net profit of Piraeus Bank in Ukraine amounted to UAH 18 mio in Q1 2018

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Net profit of Piraeus Bank in Ukraine amounted to UAH 18 mio in Q1 2018

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Net profit of Piraeus Bank in Ukraine amounted to UAH 18 mio in Q1 2018

11 June 2018

Piraeus Bank’s net profit for the whole previous year totals UAH 29,8 mio compared to UAH 3,2 mio a year earlier.

The profit increase stems from SME lending activation as well as optimization of attracted resources costs and structure. As a result, net commission income increased 117% or UAH 93,3 mio in 2017, net commission income– on 41% or UAH 22,4 mio.

“Piraeus Bank has real and efficient banking business model – when the bank derives a profit from banking products and real sector lending, so not only from treasury bills, such as NBU certificates, or short-term liquidity management. For example, we plan to increase commission income 30% this year.

This justifies that the niche bank strategy direction was chosen correctly,” commented Piraeus Bank CEO Sergii Naumov.

As of December 31, 2017, Piraeus Bank's total assets amounted to UAH 3.061 bln, the net of provisions loan portfolio - UAH 1,786 bln, customer deposits - UAH 1.796 bln.

The amount of regulatory capital of the bank as of December 31, 2017 was 530.7 mio UAH; the standard of sufficiency of the bank is 32.28% (the minimum level is set by the NBU - 10%).

Net profit of Piraeus Bank in Ukraine amounted to UAH 18 mio in Q1 2018

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