Ukreximbank posts UAH 11.25 bln loss in 2014
The state export-import bank of Ukraine (Ukreximbank, Kyiv) saw UAH 11.249 billion of net loss in 2014, while in 2013 its net profit stood at UAH 200.632 million, reads a report issued by the bank on Monday.
The loss is linked to the formation of reserves for depreciable assets: UAH 11.431 billion was allocated for this purpose, while in 2014 – UAH 2.8 billion.
In addition, the bank saw UAH 4.3 billion of loss due to exchange rate fluctuations (UAH 54.159 million in 2013), and other operating expenses rose by 6.38 times, to UAH 2.497 billion.
Total loss of the bank last year reached UAH 10.935 billion compared to UAH 276.925 billion of total profit a year ago.
Total assets grew by 32.4%, to UAH 123.53 billion.
The sum of money and its equivalents grew to UAH 16.79 billion, and the sum of securities for sale rose by 36.7%, to UAH 40.426 billion.
Among the bank's liabilities, the sum of clients' funds grew by 49.5%, to almost UAH 62 billion, the sum of liabilities on eurobonds rose by 61%, to UAH 21.764 billion. Unregistered payments to the charter capital in the amount of UAH 5 billion appeared and the sum of undistributed loss grew from UAH 28.394 million to UAH 11.532 billion.
Ukreximbank was founded in 1992. Its sole owner is the state.
Ukreximbank ranked third among 158 operating banks as of January 1, 2015, in terms of total assets worth UAH 126 billion, according to the National Bank of Ukraine.