Raiffeisen Bank Aval reports net profit 88% up in Jan-June 2017

Raiffeisen Bank Aval reports net profit 88% up in Jan-June 2017The net profit of Raiffeisen Bank Aval (Kyiv) in January-June 2017 amounted to UAH 2.738 billion, which is 88% more compared to the same period of 2016 (UAH 1.456 billion).

According to a financial report on the bank's website, its net interest income for the first half of this year increased by 15.5% compared to the corresponding period last year, to UAH 2.739 billion.

In addition, the bank received a commission income of UAH 1.040 billion (25.5% more).

The bank's assets for the first six months increased by 8.8%, to UAH 60.912 billion, in particular loans and advance payments to customers increased by 10.2%, to UAH 30.859 billion.

Its charter capital at the end of this period remained at the same level - UAH 6.155 billion, while net worth decreased by 8.8%, to UAH 9.181 billion.

Raiffeisen Bank Aval was founded in 1992. According to its data, as of January 1, 2017, Raiffeisen Bank International (RBI, Austria) owned 68.27% of the charter capital in the financial institution, the European Bank for Reconstruction and Development (EBRD) held 30%.

Raiffeisen Bank Aval ranked fifth among 90 operating banks as of April 1, 2017, in terms of assets (UAH 57.684 billion), according to the National Bank of Ukraine.
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