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Ukrainian subsidiary of Russian Sberbank received UAH 44.306m net profit in Q1 2017

Ukrainian subsidiary of Russian Sberbank received UAH 44.306m net profit in Q1 2017PJSC Sberbank (Kyiv) in January-March 2017 received UAH 44.306 million in net profit, which is 16.6% less than in the same period in 2016 (UAH 53.108 million).

According to the financial report of the bank posted on its website, its net interest income for the first quarter of this year decreased by 18.3%, to UAH 840.993 million. Excluding expenses for the formation of reserves, net interest income was UAH 201.68 million, which is 21.7% down from the first quarter of last year.

In addition, the bank received UAH 144.558 million of commission income (2.8% more).

The bank's assets for the first three months decreased by 11.2% and amounted to UAH 42.873 billion, in particular loans and advances to customers by 3.4%, to UAH 38.95 billion.

Charter capital by the end of this period remained at the same level – UAH 12.465 billion, while net worth grew by 1.2%, to UAH 3.677 billion.

Ukrainian bank PJSC Sberbank was founded in 2001. Its sole owner is Sberbank of Russia.

Sberbank ranked sixth among 93 banks operating in the country as of January 1, 2017, in terms of assets (UAH 48.356 billion), according to the National Bank of Ukraine.
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