Oschadbank posts 22% rise in net profit in H1, 2017
State-controlled Oschadbank (Kyiv) in January-June 2017 saw net profit rise by 22% compared to the corresponding period of the previous year, to UAH 306 million, according to a press release from the bank.
Operating income increased by 20.3%, to UAH 4.7 billion.
The assets of the bank for the six months increased by 4.6%, to UAH 220.3 billion. The loan and investment portfolio rose by 3.9%, to UAH 149.2 billion. Net worth grew by 64.3%, to UAH 25.9 billion. The adequacy of the bank's regulatory capital is 12.4% with the requirement being at least 10%.
Oschadbank's activities during the first half of 2017 were aimed at implementing the development strategy and the road map for transformation envisaged by the agreement on strategic cooperation between Oschadbank and the European Bank for Reconstruction and Development (EBRD), ensuring competitive positions in the Ukrainian banking market on the key indicators through increased profitability, operational efficiency and quality of services.
Oschadbank was founded in 1991. Its only owner is the state.
Oschadbank ranked second among 90 banks operating in the country on April 1, 2017 in terms of total assets (UAH 226.9 billion), according to the National Bank of Ukraine.