Oschadbank sees UAH 158.3 mln in net profit in Q1 2017
State-run Oschadbank saw UAH 158.3 million in net profit in January-March 2017, which was 41.3% up on the same period of 2016, the bank said in a press release.
The bank said its assets in the reporting period increased by UAH 15.8 billion, or by 7.5%, to UAH 226.4 billion, investments in securities by UAH 10.6 billion or by 13.7%, to UAH 87.97 billion, the volume of deposits of legal entities by UAH 7.7 billion or by 5.4%, to UAH 151.3 billion.
The adequacy of the bank's regulatory capital as of the beginning of April was 14.06%.
"Our priority was the resumption of the bank's profitable activity. We managed to achieve this goal in 2016 and maintain a positive trend this year as well. Oschadbank is currently one of the few banks in the market that consistently demonstrates profitable activity. The bank was sufficiently capitalized and fully repaid refinancing from the National Bank of Ukraine," bank board chairman Andriy Pyshny said.
Oschadbank was founded in 1991. Its only owner is the state.
Oschadbank ranked second among 93 banks operating in the country as of January 1, 2017 in terms of total assets (UAH 210.099 billion), according to the National Bank of Ukraine.