Raiffeisen Bank Aval, controlled by Raiffeisen Bank International since 2005, is the 5th largest bank in Ukraine, accounting for 5% of total domestic banking assets. The EBRD acquired a 30% stake in Aval in 2015.
Raiffeisen Bank Aval’s provisional unconsolidated 2020 financials released by the NBU showed net profit of UAH 4.1bn ($151m) in 2020, down 14% y-o-y and implying 4Q20 net income of UAH 0.95bn ($34m), down 9% q-o-q. Total assets increased by 35% y-o-y (+8% q-o-q), with net loans -3% y-o-y (+4% q-o-q) and customer deposits +32% y-o-y (+5% q-o-q). NIM (based on net interest-bearing assets) stood at 8.4% in 2020, -1.6pp y-o-y. Cost of risk (annualized) came in at 1.4% in 2020, up from almost zero in 2019. The total capital adequacy ratio (NBU) stood at 18.0%, -1.1pp y-o-y and +1.4pp q-o-q. (NBU)
Raiffeisen Bank International (RBI), as part of its 3Q20 IFRS statements, reported results for its Ukrainian unit Raiffeisen Bank Aval (BAVL). Aval booked 3Q20 net profit of EUR 33m ($39m), down 6.3% q-o-q, bringing 9M20 net income to EUR 105m ($118m), -17% y-o-y. NIM stood at 7.9% in 3Q20, -1.2pp q-o-q (8.9% in 9M20, -2.0pp y-o-y), while the Cost/Income ratio increased by 4.9pp q-o-q to 44.7% (43.5% in 9M20, -1.6pp y-o-y).