By KYIV. Nov 3 (Interfax-Ukraine) – The net profit of UkrSibbank (Kyiv) for January-September 2023 amounted to UAH 5.66 billion, which is 2.7 times higher than this figure for the same period in 2022, according to the bank’s unconsolidated report for the third quarter.
According to it, the bank’s net profit for the third quarter amounted to UAH 2.10 billion, which is UAH 280 million more than in the second quarter and UAH 720 million higher than its figure for the comparable period last year.
According to the report, net interest income of UkrSibbank increased in January-September 2023 by 60.1% compared to the previous year – to UAH 9.07 billion, including in the third quarter the increase was 20.9% – to UAH 3.15 billion, which in turn is UAH 100 million more than in the second quarter of this year.
Net commission income for the nine months of this year increased by 9.2% compared to the results of 2022 – to UAH 1.23 billion. Nevertheless, for July-September this figure was 7.2% less than last year’s value, but 7.4% more than in the second quarter of this year – UAH 410 million.
In general, net income from operating activities increased by 2.6 times compared to the previous year, while the loss of utility reduction decreased from UAH 2.43 billion for the nine months of 2022 to UAH 250 million, including in the third quarter it amounted to only UAH 10 million.
According to the report, over the nine months of 2023, the bank’s assets increased by 22.7%, reaching UAH 133.09 billion by September 30.
This growth is largely explained by a significant increase in investments in securities – from UAH 45.76 billion to UAH 70.34 billion, required reserves and short-term placements of the bank with the NBU – from UAH 5.32 billion to UAH 12.52 billion.
At the same time, the volume of financial institutions’ funds in correspondent accounts, loans and overnight deposits in banks decreased from UAH 34.57 billion to UAH 33.33 billion, as well as cash – from UAH 2.7 billion to UAH 2.03 billion.
