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Credit Agricole Ukraine (CAU) reached in 2016 its record net profit of UAH 808 million, showing an increase by UAH +366 million or +83% as compared to 2015.
This result was achieved thanks to higher revenues and declining risk charges. CAU’s Net banking Income (NBI) increased by UAH +91 million in 2016 as compared to 2015 (+3%) despite decrease of interest rates and FX spreads. The cost of risk decreased – from their high levels in 2015 – by -34% or by UAH 457 million, which reflects the improvement of the economic situation in Ukraine as well as CAU risk monitoring policy.
CAU, by means of attracting new customers in corporate and private sector, keeps diversifying its loan book and contributing to the Ukrainian economy. Its loan portfolio increased by +14% or UAH +2.4 billion (growth of +12% for Corporate loans and +35% for Private individuals vs +3.7% and -6.4% respectively for the market according to preliminary NBU data). As a result, Total assets rose by +29% and amounted to UAH 29.9 billion.
Customer deposits also increased by +34% or UAH 6.4 billion. Corporate deposits grew by +43%, deposits from Private individuals by +13%.
The Bank continues to demonstrate strong capital position with a capital adequacy ratio (N2) of 18.65% as of the end of January 2017 after having the payment of dividends related to 2015 financial year. CAU belongs to the few banks able to pay dividends to its shareholders and plans to distribute in 2017.
«2016 confirmed the ability of Credit Agricole Ukraine to generate high profits relying on its own strengths. Such good results are paving the way for a further growth of the activity of Credit Agricole Ukraine for the benefit of its customers, the Ukrainian economy and its shareholders», - commented Régis Lefèvre, member of the Management Board, Chief Financial Officer of Credit Agricole Bank.
Short overview of CAU’s Income Statement:
Other significant information on CAU’s financials:
* CAU’s preliminary financial statements are subject to audit by external auditors and approval by its Supervisory Board. An Annual auditor's report will also be published on the CAU’s website within regulatory required deadline.
Short Income Statement
(in UAH million)
|Item||2015||2016||2016 vs 2015|
|Net Banking Income||2,760||2,851||2,851||3%|
|Gross Operating Income||1,896||1,867||-28||-2%|
|Cost of Risk**||-1,326||-869||457||-34%|
|Result before taxes||570||998||428||75%|
** For correctness of comparison Expenses arising from the initial recognition of financial assets with interest rate higher or lower than the market one (discount) ( -25 million in 2016 ) are included in Cost of Risk as they were in 2015 (-143 million)
Summary Balance Sheet
(in UAH million)
|Item||31 December 2015||31 December 2016||∆ за 2016||в %|
|Cash and cash equivalents||6,470||10,538||4,067||63%|
|Due from other banks and the NBU||2,438||2,604||166||7%|
|Gross Loans and advances to customers||16,652||19,04||2,389||14%|
|Private individuals loans||1,619||2,190||570||35%|
|Due to other banks||855||392||-463||-54%|
|Private individuals deposits||5,476||6,166||689||13%|
|Total liabilities ||21,156||27,420||6,263||30%|
|Total equity and liabilities||23,239||29,895||6,657||29%|
CAU’s preliminary financial statements are subject to audit by external auditors and approval by the CAU Supervisory Board. An Annual auditor's report will also be published on the CAU’s website within regulatory required deadline
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 460 000 private and 26 000 corporate customers, including representatives of small and medium business, large Ukrainian companies and international corporations
Viktoriia Torianyk, Head of PR and corporate communications Credit Agricole Bank.
Phone: +38 044 581 07 45, e-mail: Viktoriia.Torianyk@credit-agricole.ua