You're reading: Profit of Fidobank totals Hr 3.1 million in January-September

  The profit of Fidobank (Kyiv) came to Hr 3.1 million in January-September 2014.

“Thanks to… business activity in the third quarter of 2014 Fidobank provided for a large rise in net interest-bearing revenue… This fact jointly with the retaining growth pace in net commission fee and effective work with bad debts allowed the bank to show profit of Hr 989,000, despite the unfavorable financial and economic conditions [year-over-year profit stood at Hr 1.233 million]. In Q1-Q3, 2014, the bank’s profit amounted to Hr 3.1 million,” reads a press release of the bank.

Its assets since early 2014 fell by 4.6 percent, to Hr 10.903 billion.

The bank’s resource base expanded by almost 9 percent, to Hr 6.403 billion.

Its regulatory capital as of Oct. 1, 2014 reached Hr 2.019 billion.

Fidobank was established in 1991. In Nov. 2013 the process of the merger of Fidocombank (previously Erste Bank) and Fidobank was completed.

The largest shareholder of Fidobank as of July 1, 2014 were Finance Analit Service consulting firm (79.9697 percent) and Ignace Marketing Limited (Cyprus) with 20 percent, the owners of which is Oleksandr Adarych.

According to the National Bank of Ukraine, in terms of total assets as of July 1, 2014 Fidobank ranked 21st (Hr 11.81 billion) and Promeconombank 108th (Hr 854.824 million) among the 173 banks operating in the country.