First Ukrainian International Bank has been ranked second on a list of the 20 most efficient banks in Ukraine compiled by Forbes Ukraine.
Efficiency was evaluated using four ratios calculated on the basis of the banks' public statements for the three quarters of 2013 - return on assets, return on equity, profitability ratio and net interest margin.
The regulatory capital adequacy and share of non-performing loans in the loan portfolio were also taken into account. For each of the six ratios, the bank received scores from one to four.
More than three-quarters of 2013 the net profit of FUIB totaled $34.5 million, which is 55.2 percent up year-over-year.
"Achievement of such rather high performance results has become possible thanks to complex work of the bank's team as the whole. We managed to increase significantly the fee and commission income from the retail and corporate businesses. Moreover, by actively developing the consumer lending business, we ensured the loan portfolio growth. Along with this, we strictly controlled our operating expenses and optimized business processes. These measures enabled us to build up the customer base, while maintaining the operating expenses at their last year level," Sergey Chernenko, the chairman of the Management Board of FUIB, said.
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