Financial indicators of FUIB as at June 30, 2015 on a year-over-year basis:
· Net assets of the bank decreased by 5.0% to UAH35.2 billion;
· Gross loans portfolio increased by 18.6% to UAH35.6 billion;
· Customer funds remained almost unchanged and amounted to UAH24.4 billion;
· Equity amounted to UAH4.9 billion;
· Total income increased by 20.4% to UAH2.3 billion;
· Profit before provisions and taxes increased by 30.2% to UAH1.5 billion;
· Expenses for provisioning for impairment of assets increased by 112.6%.
· Return on assets (ROA) before provisions and taxes increased and amounted to 8.1%;
· Return on equity (ROE) before provisions and taxes increased and amounted to 60.0%;
· Net interest margin equaled 6.4%.
· The ratio Average net loan portfolio/deposits amounted to 108.9%;
· The ratio Average customer funds/liabilities rose to 81.2%.
Asset quality ratios:
· Good coverage ratio: the Provisions/Loans to customers ratio equaled 22.7%.
· CAR (Basel) is at a high level and equaled 16.4%;
· CAR (NBU) equaled 13.1%.
FUIB finished with a 1H2015 profit before provisions and taxes of UAH1.5 billion, which is 30.2% higher than the result for the same period last year. Growth of operating profit is associated with the increase of net commission income by 3.9% to UAH387.1 million and the increase of trade returns by 117.0% to UAH881.5 million. Net interest income decreased by 8.0% and amounted to UAH1.1 billion;
Since the beginning of 2015, net assets of the bank have decreased by 6% to UAH35.2 billion; Gross loans portfolio increased by 6.6% and amounted to UAH35.6 billion;
Customer funds amounted to UAH24.4 billion, decreasing by 7% since the beginning of the year. At the same time, the funds of corporate customers decreased by 7% to UAH11.4 billion, and the growth of funds of private customers equaled 2.4%, to UAH13.0 billion.
Most of the provisions for lending operations of the bank were formed at the beginning of the year, which was caused by the sharp devaluation of the national currency and the aggravation of military conflict. Compared to the first half of 2014, deductions for lending operations increased more than 2 times and amounted to UAH2.3 billion In this regard, the financial result of the first half of 2015 turned out to be negative (-643.2 million UAH).
"By the summer of this year, it became apparent that FUIB has a sustainable business model. Despite the need for provisions and outflows of customer funds, the bank remains one of the most liquid and operationally profitable ones in the banking system. Merger with Renaissance Credit Bank did not reduce organization's performance; we have not stopped lending to private clients and have resumed lending to corporate customers within limited amounts. At the same time, the dynamics of funds of private customers has again become positive. If stabilization of the economy continues, the Bank will finish 2015 without losses," noted Serhiy Chernenko, FUIB's CEO.