The 2019 net profit of the First Ukrainian International Bank (FUIB) amounted to UAH 2.6 billion, up by 30% year on year. With every line of the bank's business being profitable last year, FUIB ranked one place higher among the most profitable banks, coming in third as of 2019.
The bank's operating revenue after provisioning was UAH 7.25 billion, up by 27% year on year. Over 2019, FUIB created provisions of UAH 215 million.
The net interest income after provisioning in 2019 grew by 39% to UAH 5.08 billion compared to UAH 3.66 billion in 2018. The 2019 net fee and commission income rose 16% to UAH 1.75 billion.
FUIB's assets amounted to UAH 55.44 billion in 2019. The net loan portfolio was UAH 21.20 billion in the corporate segment and UAH 11.69 billion in retail.
"Last year's performance was one of the best in the bank's history. FUIB yielded significantly more revenue while maintaining the portfolio quality. The bank showed profitability in all segments: the operating revenue increased by over a fourth y-o-y, and the interest income was more than a third higher. The growth was mainly driven by retail lending, where the portfolio increased thanks to the high margin products. The B2B performance improvement was driven by more SME lending, bigger share of factoring and leasing, as well as further exploration into foreign currency lending for the new industries such as renewables," said Serhiy Chernenko, FUIB Board Chairman.
In 2019, the bank's liabilities amounted to UAH 46.37 billion, increasing by UAH 2.82 billion year on year. Higher liabilities were attributable to significantly more deposits made by individuals. Over the last year, FUIB's capital grew by UAH 2.75 billion to reach UAH 9.07 billion as of 1 January 2020 (up 44%).
At the end of 2018, bank's cost to income ratio was 55% and margin 13.4%. The capital adequacy at the end of 2019 was 21.21% versus a 10% ratio required by the National Bank of Ukraine.