According to interim financial statements data, Credit Agricole Ukraine (CAU) reached in Q1 2016 a positive net profit of UAH 124 million, showing an increase by UAH 51 million as compared to Q4 2015. In final audited 2015 financial statements the Bank posted a total net profit of UAH 441 million.
This result has been achieved on higher revenues. CAU’s Net banking Income (NBI) has increased by 11% (or by UAH 75 million) in Q1 2016 compared to Q1 2015. Limited growth of expenses allowed the Bank to increase its Gross Operating Income by UAH 64 million compared to Q1 2015 and improve its Cost Income Ratio from 35% in Q4 2015 to 30% in Q1 2016. CAU managed to generate high net profit despite additional Cost of Risk.
Short overview of CAU’s Income Statement:
Other significant information on CAU’s financials:
Annex 1
Quarterly Income Statement
(in UAH million)
Item |
Q1 2015 |
Q4 2015 |
Q1 2016 |
Q1 2016 to Q4 2015 |
Q1 2016 to Q1 2015 |
Net Banking Income |
655 |
727 |
730 |
3 |
75 |
NII |
522 |
551 |
512 |
-39 |
-10 |
Commissions |
136 |
141 |
128 |
-14 |
-8 |
Other NBI |
-3 |
35 |
91 |
56 |
94 |
Operating Expenses |
-210 |
-255 |
-221 |
34 |
-11 |
Staff charges |
-134 |
-149 |
-125 |
24 |
8 |
Other expenses |
-76 |
-106 |
-96 |
10 |
-19 |
Gross Operating Income |
445 |
472 |
509 |
37 |
64 |
Cost of Risk |
-240 |
-369 |
-343 |
26 |
-103 |
Result before taxes |
205 |
103 |
166 |
63 |
-39 |
Taxes |
-41 |
-30 |
-42 |
-12 |
-1 |
Net Result |
164 |
73 |
124 |
51 |
-40 |
*CAU’s Interim Financial Statements are elaborated according to IFRS. Additionally, the detailed quarterly financial statements are published on the bank's website.
About the Bank:
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 442 000 private and 35 000 corporate customers, including representatives of small and medium business, large Ukrainian companies and international corporations.
Contacts:
Viktoriia Torianyk, Head of PR and corporate communications Credit Agricole Bank
Phone: +38 044 581 07 45, email: Viktoriia.Torianyk@credit-agricole.ua