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Raiffeisen Bank profit up 62% in Jan
KYIV. March 2 (Interfax-Ukraine) – Raiffeisen Bank’s profit for January 2023 amounted to UAH 742 million, which is 62% more than in the same period in 2022 (UAH 457 million), the bank’s press service reported on Thursday.
According to the report, the bank’s income in January amounted to UAH 1.8 billion, which is 1.6 times more than in January 2022 (UAH 1.1 billion).
In particular, net interest income amounted to UAH 1.4 billion, or 78% of total income.
It is indicated that the commission income increased by 28%, to UAH 270 billion, which indicates the growth of client transactions, including in remote service channels.
The trading result grew by 30% year-on-year and amounted to UAH 124 million.
In addition, the bank allocated UAH 380 million in reserves in January to cover possible credit and operational risks caused by the war, which is 4.7 times more than a year earlier.
The share of non-performing loans in the bank’s loan portfolio by the end of January amounted to 14.8%, while the loan portfolio itself slightly decreased in January and amounted to UAH 72 billion.
According to the report, the funds of corporate clients in Raiffeisen Bank increased by UAH 6 billion, to UAH 61 billion, and individuals by 1%, to UAH 6 billion.
It is noted that half of the bank’s 300 operating branches are equipped with generators and backup communication channels.