In the first quarter of this year, the Bank Poroshenko got profit for all of 2015

During January-March 2017 the”international investment Bank” (MIB), the main owner of which is the President of Ukraine Petro Poroshenko, got 26,8 mln UAH of profit.

For all of 2016, the profit amounted to 42.6 million UAH, in 2015 – 26.2 million UAH, in 2014 – UAH 16 million. Such data in its reporting of the IIB published, reports Finbalance.

Bank’s net interest income in the first quarter – UAH 45.6 million (last year in the same period – 45,9 million UAH), net increases in provisions for loan impairment – 23.6 million UAH (in the first quarter of the 2016 39,25 million UAH). At the end of March the Bank formed reserves covered loan portfolio on a fairly modest compared to other top banks 16.3 per cent (despite the fact that 99% of loans granted to legal entities).

Recently, the IIB’s shareholders decided to increase its authorized capital by 40.5 million UAH – to r202. 1 million UAH. The major shareholder of IIB – Ukraine’s President Petro Poroshenko, minority – first Deputy head of the parliamentary faction “Block of Petro Poroshenko” Igor Kononenko, first Deputy Secretary of the national security Council Oleg Gladkovsky, the son and the daughter of the head of the Fund of guaranteeing deposits of individuals of Constantine Voroshilina.

IIB’s loan portfolio in January-March decreased by UAH 135 million (-6,4%) to 1.99 billion UAH, while in 2016 – an increase of 129 million UAH (down 5.7%). The amount of cash and cash equivalents decreased by UAH 194 million (-4,3%) to 4.34 billion, while last year increased 2.3 times (+UAH 2.6 bn).

The volume of customer assets in the first quarter decreased by UAH 225 million (-3,5%) – to 6.14 billion, while in 2016 increased by UAH 1.35 bn (+26.8 per cent).

“International investment Bank” in reporting cites that the volume of deposits of related entities in its portfolio at the end of March amounted to UAH 4.3 billion (including UAH 1.1 bn funds largest shareholders, and 3.2 billion UAH – funds of the companies under common control). It is 70% of the total Deposit portfolio of the Bank.

In the financial statements for the year 2016 of the IIB stated that the value of the standard maximum size of credits, guarantees and sureties granted to related parties of the Bank (H9), at the end of December was 1.7% (standard value H9 – no more than 25%). However, the Bank said that in the past year, the NBU by its decisions related to the composition of related parties of the Bank an additional 40 people. However, the IIB this list do not agree.

According to statements of the IIB, at the end of 2016, the lion’s share of its loan portfolio was concentrated in areas where they have business interests of its shareholders (including auto repair, transport, food production, agribusiness).

International investment Bank

About the e-Declaration of the President of Petro Poroshenko for 2016 read on Dnia this link.