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Credit Agricole Bank achieved a Net profit of UAH 561 million in 9M2016, an increase by UAH +193 million or +52% as compared to 9M2015*

31 October 2016

Credit Agricole Bank reached in 9M2016 a net profit of UAH 561 million, showing an increase by UAH +193 million or +52% as compared to 9M2015.

This result was achieved thanks to higher revenues and declining risk charges. Credit Agricole Bank’s Net banking Income (NBI) increased by UAH +85 million in 9M2016 as compared to 9M2015 (+4%) despite the decrease of interest rates and FX spreads. Risk charges decreased – from their high levels in the first nine months of 2015 – by +24% or by UAH +231 million, which reflects the improvement of the economic situation in Ukraine as well as Credit Agricole Bank risk monitoring policy.

Credit Agricole Bank, by means of attracting new customers in corporate and private sector, keeps diversifying its loan book and investing in the Ukrainian economy. Its loan portfolio increased by +15% or UAH +2.5 billion (growth of +14% for Corporate loans and +21% for Private individuals). As a result, Total assets rose by +26% and amounted to UAH 29.2 billion.

Customer deposits also increased by +31%. Corporate deposits grew by +41%, deposits from Private individuals by +8%.
The bank continues to demonstrate strong capital position with a capital adequacy ratio (N2) of 16.43% after the payment of dividends on FY-2015 profit. Credit Agricole Bank belongs to the few banks able to pay dividends to its shareholders.

“Growing assets, lower risk charges and increasing net result. Credit Agricole Bank ends the third quarter with its best quarterly net profit ever realized, at UAH 245 million. The bank once again confirms its ability to generate high and regular profits as well as to contribute to the development of the Ukrainian economy with a progression of the loan portfolio of all its businesses” commented Regis Lefevre, member of the Management Board, Chief Financial Officer of Credit Agricole Bank and “Best Bank’s CFO” award winner for the two last years.

Short overview of Credit Agricole Bank’s Income Statement:

  • Net banking Income (NBI) for the nine months of 2016 reached UAH 2.1 billion (+4%). Good commissions and other revenues more than offset the decrease of net interest income, showing the continuing ability of the bank to diversify its sources of revenues.
  • Net interest income (NII) for the 9M2016 decreased by -5% compared to the same period of 2015 due to lower interest rates (credits and NBU CDs), reflecting the  decrease of NBU key policy rate (-7% since the beginning of the year as of 30 September 2016) and over-liquidity in the banking system.
  • Net commission income increased by UAH +66 million or by +18% in 9M2016 vs 9M2015 on higher commissions on cash and settlement and insurance services.
  • Other NBI increased by UAH +100 million or by +56% in 9M2016 compared to 9M2015 mainly due to and absence of the significant negative effect of OCP revaluation which took place in 2015.
  • Administrative expenses increased by UAH +88 million compared to 9M2015 partly on FX impact and investments in Human Resources and new projects, out of which digitalization and transformation ones.
  • Decreased Cost of Risk (UAH -231 million vs 9M2015) reflects the improvement of the environment. Credit Agricole Bank maintained however its conservative provisioning policy, reflected by the increase YTD of the coverage ratio of non-performing credit exposure from 71% to 80%.

Other significant information on CAU’s financials:

  • Total assets increased by UAH +5.9 billion YTD to UAH 29.2 billion, which reflects the continuous increase of Credit Agricole Bank business volumes and further improvement and strengthening of the liquidity position.
  • Cash and cash equivalents grew by UAH +3.9 billion to UAH 10.4 billion. Credit Agricole Bank is strengthening its liquidity position.
  • Gross Loans and advances to customers increased by +15%. Gross Loans to corporate customers increased by +14% during 9M2016 while loans to Private individuals increased by +21%.
  • Customer deposits also increased by +31% mainly due to growth of Corporate deposits (by +41%).
  • Regulatory capital adequacy ratio (N2) as of the end of September 2016 reached 16.43% (vs the regulatory level of 10%).

Annex 1
                                                                                                  Short Income Statement (in UAH million)


9M 2015

9M 2016

 9M 2016 vs 9M 2015

Net Banking Income















Other NB!





Operating Expenses





Staff charges





Other expenses





Cross Operating Income





Cost of Risk





Result before taxes










Net Result





Annex 2

Summary Balance Sheet (in UAH million)

Item 30 September 2016 31 December 2015    YTD 9M2016 in %
Cash and cash equivalents 10,418 6,470 3,947 61%
Due from other banks and the NBU 2,006 2,438 -431 -18%
Gross Loans and advances to customers 19,156 16,652 2,503 15%
Corporate loans 17,200 15,033 2,167 14%
Private individuals loans 1,956 1,619 337 21%
Provisions -3,458 -2,828 -630 22%
Other assets 1,065 506 559 110%
Total assets 29,187 23,239 5,948 26%
Due to three banks    511 855 -344 -40%
Customer deposits 24,711 18,814 5,897 31%
Corporate deposits 18,805 13,338 5,467 41%
Private individuals deposits 5,906 5,476 430 8%
Other liabilities 416 280 136 49%
Subordinated debt 1,320 1,207 113  9%
Total liabilities
26,959 21,156 5,803 27%
Equity 2,228 2,082 146 7%
Total equity and liabilities  29,187  23,239  5,948  26%

 Credit Agricole Banks’s Interim Financial Statements are elaborated according to IFRS. Additionally, the detailed quarterly financial statements will be published on the bank's website.

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:


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