Piraeus Bank announced UAH 6.8 mio net profit for the first quarter of 2017

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Piraeus Bank announced UAH 6.8 mio net profit for the first quarter of 2017

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Piraeus Bank announced UAH 6.8 mio net profit for the first quarter of 2017

05 May 2017

Piraeus Bank’s net profit for the first quarter of 2017 amounted to UAH 6.8 mio, which exceeds by 3.5 times the profit of UAH 1,9 mio in the first quarter of 2016. According to the Bank’s Press-center the total assets of the bank amounted to UAH 2.84 bln its net loan portfolio to UAH 1.14 bln and its deposit portfolio to UAH 1.38 bln.

As of March 31, 2017 Piraeus Bank met all normative requirements of the National Bank of Ukraine including the capital adequacy ones with a regulatory capital of UAH 465.7 mio and a capital adequacy ratio of 46.73% (minimum requirement is 10%).

The Bank continued to be in a very strong liquidity position meeting all liquidity ratios, which are the main indicators of the Bank’s ability to meet its obligations:

instant liquidity ratio (N4) reached 163% (minimal required level is 20%);
current liquidity ratio (N5) amounted to 114% (minimal required level is 40%);
short-term liquidity ratio (N6) complied to 127% (minimal required level is 60%).

“Based on the financial results of the first quarter of 2017, it is evident that Piraeus Bank is successful in its effort to further expand its business judging from the increased net loan portfolio, net interest income and net commission income. Simultaneously the Bank remains one of the most highly capitalized and liquid Banks in the Ukrainian Banking System, a fact that provides the basis for further prudent development of the Bank in the future,” commented Zenzefilis Nicholas, deputy chairman of the management Board of Piraeus Bank.

Piraeus Bank announced UAH 6.8 mio net profit for the first quarter of 2017

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