Assets of Ukrgasbank rise 27% in Jan-Nov

MOSCOW. Dec 27 (Interfax) - Ukrainian state-owned Ukrgasbank, one of the largest in the country, increased its assets UAH 35 billion from January through November 2023 to UAH 166.7 billion, Ukrainian media reported, citing a press release from the financial institution.

Therefore, the indicator increased 26.6% over the 11-month period.

The portfolio of attracted client funds increased UAH 29.9 billion since the beginning of this year to UAH 142.7 billion. Corporate business funds increased most significantly, by UAH 26.2 billion to UAH 85.5 billion, with small and medium-sized enterprises increasing UAH 4 billion to UAH 25.4 billion.

The portfolio of term deposits for retail business clients at the end of November totaled UAH 9.8 billion, UAH 3.5 billion more than at the beginning of January.

Ukrgasbank net profit from January through November 2023 totaled UAH 4.08 billion versus a UAH 3.75 billion net loss the previous year. Operating profit before deductions to provisions and taxation was UAH 4.3 billion.

"State-owned Ukrgasbank continues to maintain leading market positions in key performance indicators and exceed established budget targets for its profitability," the press release says.

National Bank of Ukraine data show that, as of October 1, 2023, Ukrgasbank ranked 5th in terms of assets among 63 banks operating in the country.

The official exchange rate as of December 26 is 37.52 UAH/$1.