Piraeus Bank announced UAH 8.7 mio net profit for H1 of 2017
Piraeus Bank’s net profit the same period amounted to UAH 8.7 mio for two quarters of 2017, while the operating profit of the bank amounted to UAH 9.2 mio.
According to the Bank’s press-center the bank total assets amounted to UAH 2.83 bln, its net loan portfolio to UAH 1.29 bln and its deposit portfolio to UAH 1.48 bln based on 1H 2017 results.
As of June 30, 2017 Piraeus Bank met all normative requirements of the National Bank of Ukraine including the capital adequacy ones with a regulatory capital of UAH 481.5 mio and a capital adequacy ratio of 42.35% (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 125% (minimal required level is 20%);
current liquidity ratio (N5) amounted to 138% (minimal required level is 40%);
short-term liquidity ratio (N6) complied to 126% (minimal required level is 60%).
“Piraeus Bank's results for the first six months of 2017 confirm the success of the business model aimed at financing of small and medium-sized entrepreneurs in general, in particular the agricultural sector. Thus, during the 2 quarters we exceeded the annual plan of SMEs loan portfolio increase. Therefore, we will continue to fund this sector in the future.” stressed Sergyi Naumov, CEO of Piraeus Bank.