You're reading: UkrSibbank posts 65 percent fall in profit in first half of 2013

The profit of UkrSibbank (Kharkiv) in January-June 2013 amounted to Hr 18.153 million, which is 65.2 percent less than in the same period in 2012.

According to the bank, its profit in the second quarter was Hr 12.107 million, which is 31.6 percent down from the previous year.

The bank said its net interest income in the first six months of 2013 decreased by 29.1 percent compared to the previous year, to Hr 699.609 million.

Its total assets increased by 5.7 percent, to Hr 27.375 billion, while loans and clients’ debts decreased by 5.7 percent, to Hr 14.432 billion.

The volume of reserves for bad loans declined by 38.7 percent, to Hr 1.166 billion, or 8.1 percent of the total loans and clients’ debts.

The bank’s total net worth increased by 0.6 percent, to Hr 2.645 billion. Its charter capital remained unchanged at Hr 1.774 billion.

UkrSibbank was founded in 1990. BNP Paribas S.A. (France) as of early July 2013 owned 84.9996 percent of the bank share capital, and the European Bank for Reconstruction and Development (Britain) 15 percent.

According to the National Bank of Ukraine, on Apr. 1, 2013 in terms of total assets (Hr 25.875 billion) UkrSibbank ranked 13th among the 175 banks operating in the country.