News and events

Today Ukreximbank has published its Interim Condensed Consolidated Financial Statements for the six-month period ended 30 June 2008, together with the Review Report of Ernst & Young Independent Auditors.

In 1H2008 Ukreximbank reports core income, inclusive of net interest income before provision and net fee and commission income, up 60.4% to UAH 906.8 million compared to UAH 565.4 million in 1H2007. Net interest income before provision increased 57.6% to UAH 718.7 million from UAH 456.1 million and net fees and commissions grew 72.2% to UAH 188.2 million from UAH 109.3 million. Net profit after taxation for the six-month period rose 53.5% to UAH 361.2 million versus UAH 235.4 million net profit for six month 2007.

Net interest margin increased to 4.87% compared to 4.68% for the 1H2007.

Total assets rose 20.0% and reached UAH 34,247.7 million compared to UAH 28,565.9 million for FY2007. Net loans and advances to customers up 16.4% to UAH 25,346.3 million from UAH 21,781.6 million. Gross loans to corporate customers grew 15% to UAH 24,690.5 million versus UAH 21,493.7 million for FY2007.

Annualized Return on Average Assets (ROA) for the reporting period equaled 2.11%.

Total funding base, inclusive of customer deposits, amounts due to credit institutions and own debt securities, increased 19.14% to UAH 30,752.2 million versus UAH 25,810.7 million for FY2007. Customer deposits grew 25.0% to UAH 13,227.7 million from UAH 10,594.9 million. Amounts due to credit institutions rose 31.5% to UAH 10,705.2 million from UAH 8,143.0 million. Amount of own debt securities issued reduced by 3.6% compared FY2007 to UAH 6,819.3 million.

Total shareholder’s equity in the reporting period grew 23.8% compared to FY2007 to UAH 3,082.1 million.

Annualized Return on Equity (ROE) for 1H2008 equaled 23.44%.

Cost to Income Ratio for the reporting period equaled 39.47%.

Asset quality continued to improve. Non-Performing Loans (NPL), according to newly applicable credit risk estimation in Ukreximbank, accounted for 0.98% of gross loan book, down from 1.36% at FY2007.

Full text of Interim Condensed Consolidated Financial Statements for the six-month period ended 30 June 2008 together with the Review Report of Independent Auditors available for review and downloads from http://www.eximb.com/eng/financials/financial/6m2008ifs/