UKRSIBBANK BNP Paribas Group posted in Q3 2018 a net result after tax of 669 M UAH

UKRSIBBANK has posted a solid 3rd quarter 2018 net result of

669 M UAH
, bringing the net result after tax for 9 months to

1,898 M UAH
.

The increase of market interest rates and the growth of the performing loan book, which brought customer loans to

24,3 Bn UAH
, pushed the net interest income up by 47%, while customer deposits increased by 11.3% and reached

38 Bn UAH
. Net commissions & fees and the results on FX transactions increased by 10% and contributed to reach a YTD net banking income of

4.25 Bn UAH (+35% YoY)
. Driven by salary increases and still high inflation in the first 9 months of the year, the operating expenses have increased by 23%. The cost/income ratio improved to 48%.

The combination of good recovery on the legacy NPL portfolio and the low risk of the loan book generated a cost of risk close to 0 for the first 9 months of the year.

Overall, the bank has posted a strong net income after tax of

1.898 M UAH (+122% YoY)
.