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 International (RBI), as part of its 1Q21 IFRS statements, reported results for its Ukrainian unit Raiffeisen Bank Aval (BAVL). Aval booked net profit of EUR 32m ($39m), +16% q-o-q. NIM stood at 7.7%, flat q-o-q and -2.1pp y-o-y, and Cost/Income at 46.9%, -3.0pp q-o-q and +2.3pp y-o-y. The provisioning ratio was at pos. 0.2%, meaning a release of provisions (vs. 0.5% in 4Q20 and 0.6% in 1Q20). NPLs dropped to 1.8%, -0.1pp q-o-q and -2.4pp y-o-y, with the coverage ratio at 66.8%, -3.1pp q-o-q and +5.3pp y-o-y.