FUIB, Ukraine's largest privately-owned bank, continues to demonstrate strong performance across all key banking indicators in the new year of 2024. The bank's operating profit for the first quarter amounted to UAH 4.7 billion, a 42% increase year-over-year. Overall, after taxes and operational expenses, FUIB's net profit for the first quarter of 2024 reached UAH 2.13 billion, marking a 38% increase from Q1 2023.
The bank's net interest income for 2023 was UAH 3.56 billion, up by 41%. This success was achieved through transparent and effective investments in securities.
By the end of the first quarter, the bank's equity stood at UAH 19.56 billion, nearly 13% higher than at the end of 2023 (UAH 17.39 billion). The bank's assets increased by 2.5% to UAH 157.14 billion. These metrics have positioned FUIB as one of the top two banks in terms of liquidity growth.
Tens of thousands of domestic companies and millions of Ukrainians continue to entrust their funds to First Ukrainian International Bank. As of 31 March 2024, the bank held UAH 129.43 billion in client funds. This figure represents a 2.3% increase compared to the end of the previous year. The accounts of individuals — including accounts, term deposits, and savings accounts — amount to UAH 48.7 billion, showing a growth of 2.2%. Meanwhile, the funds of corporate clients total UAH 80.73 billion, up by 2.4%. In addition to the opportunity to earn interest, which provides additional profits to companies, placing deposits with FUIB is consistently regarded as a safe and reliable method for keeping funds.
It is important to note that according to the National Bank of Ukraine (NBU), as of 1 March 2024, FUIB ranks among the top five Ukrainian banks in terms of the size of retail deposit portfolio in all currencies, and among the top three by the size of the term deposit portfolio of individual clients in hryvnia. Furthermore, FUIB has once again been included in the list of Ukraine's systemically important banks. Additionally, in March 2024, FUIB secured first place in the ranking of the most resilient banks in Ukraine among domestic banks with private capital, according to data of the investment company Dragon Capital.
"The results from the beginning of 2024 have exceeded all our expectations. It seemed challenging to compete with the very successful outcomes of 2023, but the professional team at FUIB has shown that nothing is impossible for them. So we continue to work for the Ukrainian economy and our victory!"
commented Serhiy Chernenko, Chairman of the Board at FUIB, on the bank's performance.
FUIB is also actively working to support the country. Since the full-scale invasion began, FUIB has contributed over UAH 7.5 billion in taxes and fees to the national budget, making it one of the top five largest taxpayers in the banking sector. Additionally, the bank has allocated more than UAH 530 million to social projects, including UAH 185 million towards supporting the Ukrainian Defence Forces.
