Ukrainian Sberbank net profit declines 16.6% in Q1
KYIV. May 4 (Interfax) - PJSC Sberbank (Kyiv) posted a net profit of UAH 44.306 million (about $1.7 million at the current exchange rate) in January-March 2017, which is 16.6% less than in the same period in 2016, the bank reported.
Net interest income for the first quarter of this year decreased 18.3%, to UAH 840.993 million. Net interest after provisioning totaled UAH 201.68 million, down 21.7% year-on-year.
Commission income rose 2.8% to UAH 144.558 million.
The bank's assets for the first three months fell 11.2% to UAH 42.873 billion, including UAH 38.950 billion in loans and advances to customers, 3.4% less.
Charter capital remained unchanged at UAH 12.465 billion as of the end of March, while capital grew 1.2% to UAH 3.677 billion.
Ukrainian bank PJSC Sberbank was founded in 2001. Its sole owner is Sberbank of Russia.
Sberbank announced plans to sell 100% of shares in the Ukrainian subsidiary to an investment consortium consisting of Latvian Norvik Banka and a Belarusian private-sector company. Legally binding documents on the sale have already been signed.
Sberbank has also officially announced it is leaving the Ukrainian market.
The National Bank of Ukraine (NBU) received a set of documents from an investor on April 10 to approve the acquisition of a major shareholding in Sberbank. According to the documents, the investor is Said Gutseriev, a British and Russian citizen, who intends to acquire 77.5% of the bank.
On April 14, the NBU received documents seeking approval for acquisition of a 22.5% stake in Sberbank from Norvik Bank owner Grigory Guselnikov, also a British and Russian citizen of the UK and Russia.
Sberbank ranked sixth among 93 banks operating in the country as of January 1, 2017 in terms of assets, according to the National Bank of Ukraine.
The official exchange rate on May 3 was UAH 26.56/$1.
