The IBOX BANK first transactional bank managed to take an honorable place in the ranking of the most profitable banks in Ukraine, according to the NBU.
This information was revealed by the Ukrainian edition of Financial Club with reference to the data published by the National Bank of Ukraine.
The financial institution took 9th place among 67 banks operating in the Ukrainian financial market.
“The results of the operation of IBOX BANK for the first half of 2022 confirm the right choice by the shareholders and management of the strategy of development and operation of the bank. During this difficult time for Ukraine, the professional and seasoned team of IBOX BANK continued to provide high-quality technical integration, services, and support of partners. Thanks to our hard work we were able to reach new heights: Our bank took a well-deserved place in the list of the most trusted institutions of Ukrainian businesses and individuals. We are incredibly proud of such indicators and will continue to work to achieve even better results,” said Alona Shevtsova, shareholder and Chairman of the Supervisory Board of IBOX BANK.
The management of the National Bank of Ukraine highlights the fact that even though the total loss of banks amounted to UAH 4,647 billion for the first half of the year, the majority of the banks managed to stay profitable.
The total profit in the period from January to June amounted to almost UAH 10 billion (UAH 9.992 billion). It was provided by 46 financial institutions representing about 70% of the market.
The IBOX BANK transactional bank has become one of such institutions, taking 9th place in the rating and leaving behind such competitors as Vostok Bank, Concord Bank, and Kredobank.
Here are the top five of the most profitable banks:
- PrivatBank state bank with a profit of UAH 6.284 billion.
- Banks with foreign capital: Ukrsibbank and Raiffeisen Bank (with a profit of UAH 724.1 million and UAH 628.5 million, respectively).
- Banks with Ukrainian private capital: Credit Dnepr Bank (UAH 383 million profit) and Yuzhny Bank (UAH 309.8 million).
The following banks were also listed among the top ten most profitable ones:
- Universal Bank with UAH 250.1 million
- Citibank with UAH 235.6 million
- FUIB: UAH 218.6 million
- IBOX BANK: UAH 123.3 million
- Vostok Bank: UAH 106 million
Earlier this year, the IBOX BANK managed to update its long-term credit rating to the highest level of uaAАА.
A few months ago, the National Bank of Ukraine approved a new version of the charter of IBOX BANK in connection with an increase in the authorized capital to UAH 741 million. The Committee on Supervision and Regulation of Banks and Supervision of Payment Systems of the National Bank of Ukraine confirmed and approved the implementation of all economic standards by IBOX BANK that allow the financial institution to become a bank of the second tier.