Credit Dnepr Bank for the 9 months of 2017 increased its equity by 375.8%, to UAH 898.779 million, assets - by 3.44%, to UAH 8.141 billion

31 October 2017

Net interest income of Credit Dnepr Bank for the 9 months of 2017 amounted to UAH 92,022 million, while for the corresponding period of 2016, its net interest loss amounted to UAH 118,680 million.
Net fee and commission income for the 9 months of 2017 increased by 23% to the corresponding period of 2016 - to UAH 81.281 million.
The losses of the Bank Dnipro Credit on the basis of activities in January-September 2017 amounted to 489.11 million UAH, while for the corresponding period in 2016 this figure amounted to 207.193 million UAH.
"The main cause of losses is the formation of reserves. The situation with problematic assets in the banking environment remains one of the most acute, the lack of a regulatory framework for protecting the rights of creditors further impedes the process of resolving the issue, "said Sergiy Volkov, Deputy Chairman of the Bank's Credit Dnepr Board. - The Bank continues to work with the old troubled portfolio, which is formed predominantly by loans issued before 2014, including borrowers from the Crimea and the ATO zone. Taking into account the updated requirements for credit risk assessment in accordance with the 351 NBU Resolution, we decided to maximize the risks for such a portfolio.

In 2017, deductions for the formation of reserves amounted to 311.5 million UAH, as a whole, as of September 30, 2017, the bank formed reserves for corporate loans amounting to 1.922 billion UAH and natural persons - by 414.1 million UAH, which led to a negative financial result . Significant strengthening of the bank's position by increasing the authorized capital by UAH 1.199 billion, to UAH 2.74 billion, as well as the active development of new business lines - agro-and retail lending - will help return to profitable activity next year. "
Since the beginning of the year, the bank's assets have grown by 3.44% to UAH 8.141 billion. The volumes of loans and advances to customers decreased by 0.5% - to UAH 3.980 billion, loans to individuals increased by UAH 128 million.
Since the beginning of the year, the Bank's equity has increased by 375.8% to UAH 898.779 million.

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