FUIB 1Q15 IFRS financial results

Обзор облигаций 09.06.2015 The bank claims that the loan portfolio has suffered little despite of the extreme USD/UAH rate fluctuations. Although actively engaged in restructuring negotiations with corporate clients in an effort to work with them and avoid official write-offs of delinquent loans, the bank has reported UAH1.6bn of provisioning expenses in 1Q15 versus UAH647m in 4Q14. FUIB experienced a net inflow of UAH retail deposits in March-May as a result of aggressive marketing and offering above-average interest rates. However, FX deposits have declined as customers question their ability to withdraw deposits in full in the future. The bank estimates that its loan exposure in the Donbass region constitutes only 17.6% of the 1Q15. Only 5.2% of the deposits remain in the occupied areas as the bank allowed clients to transfer deposits to branches in militant-free areas.