13:06 09.11.2020

Pivdenny Bank is among the top 3 most profitable Ukrainian banks in terms of private equity

2 min read

Pivdenny Joint-Stock Bank is among the Top-3 most profitable Ukrainian banks with private capital. The net profit of Pivdenny Bank from January to September 2020 amounted to UAH 257.31 million, which is 5.3% higher than the same period of 2019 (UAH 244.39 million).

In the third quarter of 2020, the net profit increased 1.7 times compared to the same period last year – to UAH 143.01 million.

The growth of Pivdenny Bank’s net profit in the first nine months of this year was due to an increase in net interest income by 17.9% (up to UAH 1.09 billion) and net commission income by 9.6% (up to UAH 491.26 million), which covered the increase in allocations to loan loss provisions by 11.8% (up to UAH 219.07 million).

According to the results of nine months, the bank’s assets increased by 16.6% to UAH 31.12 billion, including loans and advances to clients – by 34.9% (to UAH 17.61 billion), and the debt of other banks – 4.2 times (up to UAH 2.57 billion).

The bank’s equity increased by 9.6% to UAH 3.11 billion in nine months, including authorised capital by 22.5% to UAH 1.64 billion. According to the decision of the general meeting of shareholders in September 2020, UAH 186 million of the profit for 2018-2019 was directed to increase authorised capital.

According to the NBU, as of 1 October 2020, Pivdenny Bank ranks 11th among 74 solvent banks in terms of assets.

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