Credit Agricole Bank demonstrates positive dynamics of financial performance in 2019. This trend confirms the stability and reliability of the bank.

“2019 is the first year of the New Medium Term Plan 2019-2022 and the bank is confirming its capacity of achieving excellent financial performance with a Net result for the 9 months 2019 above 1.3 billion. Credit Agricole Bank is one of the main sources of financing for companies, especially for international companies and agro businesses, as well as retail clients seeking a higher level of service. To meet our customers’ needs, we continue to invest in improving our processes, both offline and digital”,Giorgio Sopranzi, Member of the Management Board, Financial Director of Credit Agricole Bank commented.

Performing loan portfolio (net of provisions) showed a steady growth of +22% or +UAH 4.9 billion in comparison with the end of December 2018. Quality of the loan portfolio confirmed on high level: bank’s NPL ratio is one of the lowest among banks in Ukraine (4.4%) and the coverage ratio remains extremely prudent (95.2%).

Crédit Agricole Bank’s deposits portfolio amounted to UAH 29.9 billion at the end of September 2019, having increased by +11%, or by +UAH 2.9 billion in comparison with the end of December 2018 and confirming the appreciation of customers for bank’s products. Customer deposits provide a comfortable level of liquidity to the bank, both in hryvnia and in foreign currency. Available liquidity buffer in hryvnia is placed in liquid instruments (CDs and T‑bills).

The bank continues to demonstrate a strong capital position with a capital adequacy ratio (N2) of 16.2%, well above the regulatory minimal level (10%).

Net banking income is increasing year-by-year (UAH 2.7 billion at the end of September 2019, +10% more than in the same period of 2018). The bank has demonstrated growth in all components of net banking income, which confirms effectiveness of the bank’s business model and consistency of strategy implementation.

Operating expenses of the bank increased in comparison with the 9 months 2018, mainly on staff charges (labor market pressure continues). Growth of other expenses by +UAH 71 million or +17% was mainly due to the significant investments into bank’s transformation and development.

Cost to income ratio of Crédit Agricole Bank remains one of the lowest among Ukrainian universal banks, and did not deteriorate in a context of pressure on general expenses and investments.

Globally, despite the context, Gross Operating Income is keeping to increasing trend (+2% in comparison with 9 months 2018).

Cost of risk is positive in 2019 (+129 million for 9 months 2019 vs -36 million for 9 months 2018), due to active work on non-performing loans, prudent risk policy and efficient collection of bad debts.

Net profit for the 9 months of 2019 was +UAH 1 332 million, which is +12% or +UAH 147 million above the 9 months 2018 net profit.


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