Raiffeisen Bank Aval

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.

Shareholders Structure

SUMMARY

Market Price ($) 0.0140
Market Cap ($m) 858
Shares Outstanding 61,495,162,580
Code BAVL

Recommendations

FV ($) ****
Upside (%) ****
Recommendation ****
Indicator 2016 2017 2018 2019E 2020F
Sales ($m) 295 320 *** *** ***
Net Income ($m) 146 200 *** *** ***
Book Value ($m) 333 386 *** *** ***
Indicator 2016 2017 2018 2019E 2020F
P/E 5.90 4.29 *** *** ***
P/Book 2.58 2.22 *** *** ***
ROE(%) - 55.6% *** *** ***

Latest news about Raiffeisen Bank Aval

Nov 14, 2019
| Banking

Raiffeisen Bank Aval — Parent reports 3Q19 financials

Raiffeisen Bank International (RBI) reported 3Q19 IFRS results, including financials for its Ukrainian unit Raiffeisen Bank Aval (BAVL). Aval booked 3Q19 net profit of EUR 44m ($49m), -3.5% q-o-q, bringing 9M19 net profit to EUR 126m ($142m), -2.5% y-o-y. NIM stood at 10.81%, -0.44pp q-o-q (11.0% in 9M19, -0.5pp y-o-y). Cost/Income came in at 44.1%, -1.2pp q-o-q (45.1% in 9M19, +4.8pp y-o-y). The provisioning ratio was reported at 1.1% vs. pos. 1.4% in 2Q19 (pos. 0.1% in 9M19 vs. pos. 2.1% in 9M18). NPLs shrank to 6.4%, -0.2pp q-o-q and -4.9pp y-o-y, with the coverage ratio at 66.2%, +0.4pp q-o-q and -7.4pp y-o-y. Loans to customers (in EUR terms) increased by 7.3% q-o-q and 18.6% y-o-y, with total assets +13.5% q-o-q and +32.0% y-o-y. Customer deposits grew by +16.6% q-o-q and +39.9% y-o-y.
Nov 01, 2019
| Banking

Raiffeisen Bank Aval — Reports in-line 3Q19 results

Raiffeisen Bank Aval reported 3Q19 net profit of UAH 1.1bn ($42m), -14% q-o-q, bringing 9M19 net income to UAH 3.5bn ($139m), -14% y-o-y. Assets were flat q-o-q (+7% y-o-y), with net loans -4% q-o-q and -3% y-o-y, while customer deposits increased by 3% q-o-q and 12% y-o-y. NIM (based on net interest-bearing assets) stood at 9.4% in 3Q19, -1.1pp q-o-q (10.6% in 9M19, -0.4pp y-o-y). Cost/Income totaled 44.6% in 3Q19, +1.3pp q-o-q (44.9% in 9M19, +4.9pp y-o-y). Cost of risk (CR; annualized) reached 0.9% in 3Q19 after the bank released provisions in 2Q19 (positive CR at 1.3%), bringing 9M19 CR to +0.1% vs. +1.6% in 9M18. NPLs (classified as Stage 3 and Purchased/Originated Credit Impaired) were reported at 9.5%, +0.2pp q-o-q and -1.6p YTD. Total capital adequacy ratio (NBU) stood at 17.9%, +2.8pp q-o-q and +0.8pp y-o-y.
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