10:00 31.10.2017

Oschadbank posts 9.3% rise in net profit in Jan-Sept

Oschadbank posts 9.3% rise in net profit in Jan-Sept

State-owned Oschadbank (Kyiv) saw a 9.3% rise in net profit in January-September 2017 year-over-year, to UAH 448.757 million, according to a report of the bank posted on its website.

According to the document, net interest income soared five-fold, to UAH 2.741 billion and net fee income – by almost 30%, to UAH 1.983 billion.

The bank also saw UAH 909.711 million of profit from transactions with foreign currency compared with UAH 2.361 billion of loss in January-September 2016 and UAH 336.958 million of loss from transactions with financial tools compared with UAH 4.50 billion of profit a year ago.

Net non-interest income fell by 26.1%, to UAH 2.7 billion.

Operating expenses over the period rose by 31.7%, to UAH 4.996 billion.

Assets were 5.2% up, reaching UAH 221.631 billion, including a 6.9% rise in the credit portfolio, to UAH 70.47 billion.

The charter capital increased 25.3% by late September 2017, to UAH 43.975 billion.

Oschadbank was founded in 1991. Its only owner is the state.

Oschadbank ranked second among 88 banks operating in the country on July 1, 2017 in terms of total assets (UAH 220.723 billion), according to the National Bank of Ukraine.

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