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"Crédit Agricole Bank has completed the first nine months of 2017 with a very high net profit of 853 MUAH, already above the Net profit of the full year 2016. If this increase of net profit is due to a decrease of cost of risk, I would like to stress that the good resistance of the Net Banking Income of Crédit Agricole Bank reflects the increase of its lending to Ukrainian economy" Régis Lefèvre, Member of the Management Board, Financial Director of Crédit Agricole Bank commented.
This result has been achieved through a diversification of its main sources of revenues and a reduction of Cost of Risk. NBI decreased by 104 MUAH or -5% for 9 months 2017 vs 9 months 2016 due to declining IRs and FX spreads. Decrease in NBI was offset by an improvement of the cost of risk, that decreased by -80% or 575 MUAH in comparison with the first nine months of 2016. This confirms overall improving trend of the economic situation in Ukraine and the quality of credit risk management system of Crédit Agricole Bank.
Crédit Agricole Bank continues to diversify its loan portfolio and invest in the Ukrainian economy by attracting new clients in the Large corporate, SME and Private segments. Loan portfolio (net of provisions) increased by +13% or by 2.1 billion UAH. Gross loans of the corporates decreased by -3%. Nevertheless, such decrease is largely driven by the successful management by CAU of its non-performing loans: work with clients, restructuring and sales of bad assets. Gross loans to private individuals increased by +50% as compared to the same period of last year, evidencing the will of CAU to reinforce its lending to Ukrainian economy.
Customer deposits increased by +3% or by 0.8 billion UAH. Deposits from corporates increased by +2% and individuals by +7%.
Short overview of Crédit Agricole Bank’s Income Statement:
Other significant information on Crédit Agricole Bank’s financials:
Summary First Nine months Income Statement
|9M-2017 VS 9M- 2016|
Net Banking Income
Gross Operating Income
Cost of Risk
Result before taxes
Summary Balance Sheet
|Item||Sep- 2016||Sep- 2017||Sep-2017 VS Sep- 2016|
|Assets|| || || || |
|Cash and cash equivalents||10418||8785||-1633||-16%|
|Due from other banks and the NBU||2006||1740||-267||-13%|
|Gross Loans and advances to customers||19156||19656||500||3%|
|Private individuals loans||1956||2928||972||50%|
|Liabilities|| || |
|Due to other banks||511||8||-503||-98%|
|Private individuals deposits||5906||6318||412||7%|
Total equity and liabilities
About Credit Agricole:
PJSC «CREDIT AGRICOLE BANK» is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of bank insurance and third - in project financing in Europe. Credit Agricole has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including VIP clients, and business. The Bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of CREDIT AGRICOLE in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 300 000 active private and 18 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business.
Viktoriia Torianyk, Head of PR and Corporate Communications at Credit Agricole Bank.
Phone: +38 044 581 07 45, e-mail: Viktoriia.Torianyk@credit-agricole.ua