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Crédit Agricole Bank continues to demonstrate an excellent performance in 2019*

31 July 2019

Net banking income is increasing year-by-year (UAH 1,8 billion at the end of June 2019, +13% more than in the same period of 2018). The bank has demonstrated growth in all components of net banking income, which confirms efficiency of the bank’s business model and consistency of strategy implementation.   

"Crédit Agricole Bank improves its positive trend of business development year to year. During first half of the 2019 we achieved an excellent financial performance that exceeds 0,8 billion UAH after taxation. The bank continues to invest in its transformation, development of digital services and innovations. We are confidently moving towards the goals set by the Strategy of bank development", - Giorgio Sopranzi, Member of the Management Board, Financial Director of Credit Agricole Bank, commented.

Crédit Agricole Bank's deposits portfolio amounted to UAH 31.2 billion at the end of June 2019, having increased by +15%, or by +UAH 4.1 billion in comparison with end of June 2018. The increase of deposits is on all business lines, but mainly on сorporate side. Customer deposits provide a comfortable level of liquidity to the bank, both in hryvnia and in foreign currency. Crédit Agricole Bank liquidity excess in FCY represents the equivalent of 52% of its customer deposits at the end of June 2019. Available liquidity buffer in hryvnia is placed in liquid instruments (CDs and T‑bills).  

The bank continues to demonstrate a strong capital position with a capital adequacy ratio (N2) of 16.1% as of the end of June 2019, well above the regulatory minimal level (10%).

Performing loan portfolio (net of provisions) showed a steady growth of +30% or +UAH 5.7 billion in comparison with the similar period of last year. Quality of the loan portfolio confirmed on high level: bank’s NPL ratio is one of the lowest among banks in Ukraine (5.6%) and the coverage ratio remains extremely prudent (96.4%).  

Operating expenses of the bank increased in comparison with the H1 2018, mainly on staff charges (labor market pressure continues). Growth of other expenses by +UAH 58 million or +22% was mainly due to the significant investments into bank’s transformation and development.

Globally, despite the context, Gross Operating Income is keeping to increasing trend (+5% in comparison with first half year 2018).

Cost of risk is positive in H1 2019 (as in the same period 2018, +9 million in H1 2019 vs UAH +3 million in H1 2018), due to active work on non-performing loans, prudent risk policy and efficient collection of bad debts.

Cost to income ratio of Crédit Agricole Bank remains one of the lowest among Ukrainian universal banks, and did not deteriorate in a context of pressure on general expenses and investments.

Annex 1

Summary Income Statement*

(UAH million)

Item

1Н 2018

1Н 2019

1Н 2019 vs 1Н 2018

Net Banking Income

1 596 

1 800

204

13%

NII

1 056 

1 198

134

13%

Commissions

363

417

54

15%

Other NBI

168

185

17

10%

Operating Expenses 

-644

-802

-158

25%

Staff charges

-380

-481

-100

26%

Other expenses

-264

-321

-58

22%

Gross Operating Income

952

998

46

5%

Cost of Risk

3

9

6

163%

Result before taxes

955

1 007

52

5%

Taxes

-166

-182

-16

10%

Net Result

789

825

36

5%

Annex 2 

Short Balance Sheet*

(UAH million)

Item

 Jun-2018

Jun-2019

Jun-2019 vs Jun-2018

Assets




Cash and cash equivalents

9 889

9 877

-12

0%

Due from other banks and the NBU

1 806

793

- 1 013

-56%

Securities and investments

916

1 242

327

36%

Gross Loans and advances to customers

20 953

26 809

5 856

28%

Corporate loans

17 357

22 510

5 134

30%

Private individuals loans

3 578

4 299

721

20%

Provisions

-1 992

-2 120

-128

6%

Loans net of provisions

18 961

24 689

5 727

30%

Other assets

762

1 106

345

45%

Total assets

32 335

37 707

5 373

17%

Liabilities




Due to other banks

259

921

661

255%

Customer deposits

27 101

31 228

4 128

15%

Corporate deposits 

20 321

24 138

3 817

19%

Private individuals deposits

6 779

7 090

311

5%

Other liabilities

437

596

159

36%

Subordinated debts

1 007

754

-253

-25%

Total liabilities

28 803

33 498

4 695

16%

Equity

3 532

4 209

678

19%

Total equity and liabilities

32 335

37 707

5 373

17%

About Credit Agricole:  

JSC “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 ban 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 premium-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 280 000 active private and 17 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business. Credit Agricole Bank is a socially responsible bank that confirms its status by the large number of projects implemented under the Corporate Social Responsibility program “We Care!”.       

Contacts

PR and corporate communications division of Credit Agricole Bank. 

E-mail: Communications@credit-agricole.ua   

* Credit Agricole Bank’s Interim Financial Statements are elaborated according to IFRS. The detailed quarterly financial statements is published on the bank's website.

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