Ukrsotsbank in November lost three billion hryvnia

Укрсоцбанк в ноябре потерял три миллиарда гривен

The Bank hopes to change the position of the state in the protection of the rights of creditors.

With the beginning of the year loss grew to almost six billion.

Loss of Ukrsotsbank in November 2016 amounted to about 3 billion hryvnia. This was reported by FinClub financial officer Ukrsotsbank Sergey Ermakov. “It’s really a lot, but absolutely predictable due to a number of objective reasons, based on the problematic credit portfolio of the Bank, including in the East and in the Crimea (about 10 billion hryvnia). The recovery of Crimea is virtually impossible for obvious reasons,” – said the banker.

He stressed that in the III quarter loss of the Bank amounted to 2,195 billion, increasing the cumulative loss since the beginning of the year to 2,772 billion. Given the insignificant financial result and loss of 3 billion hryvnias in November, the total loss increased to 5.7 billion.

At the same time, Ukrsotsbank considers himself a “well-capitalized”. “The capitalization of the Bank was ahead of schedule in 2016. Our ratio of regulatory capital is 17% at the rate of 10% for Basel, and the level of redundancy of 40%. And if earlier in Ukrsotsbank reserves were formed at the level of the UniCredit group and was deducted from equity at the local level, today we create them at the level of the Bank,” said Ermakov.

At the same time, according to him, in the future, the disbandment of the reserves, as part of the gradual integration of Ukrsotsbank Alfa-Bank ex-daughter UniCredit group will learn from the experience of Alfa-Bank in the foreclosure of troubled loans.

Recall that in late October, ABH Holdings S. A. (a banking group of the consortium “Alfa Group”) and the international UniCredit group completed the deal to exchange assets. ABH Holdings S. A. has received 99.9% of Ukrsotsbank and UniCredit and 9.9% in the holding ABHH.

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