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IBOX BANK Has Been Recognized As One Of The Top Ten Most Profitable Financial Institutions In Ukraine For The First Six Months Of 2022

BusinessIBOX BANK Has Been Recognized As One Of The Top Ten Most Profitable Financial Institutions In Ukraine For The First Six Months Of 2022

According to the data provided by the NBU, the first transactional bank operated by IBOX BANK was successful in earning a respectable position in the list of the most profitable banks in Ukraine.

This information was made public by the Ukrainian edition of Financial Club, which did so by referencing the data that was made public by the National Bank of Ukraine.

Among the 67 banks that are active in the Ukrainian financial market, the financial institution came in at position number nine.

“The results of the operation of IBOX BANK for the first half of 2022 confirm that the shareholders and management made the right choice when it came to the strategy of development and operation of the bank. During this trying period for Ukraine, the skilled and experienced team at IBOX BANK has continued to offer high-quality technical integration, services, and support for its partners. Because of our dedication and hard work, we were able to achieve new heights, and as a result, our bank earned a spot on the list of the institutions that Ukrainian companies and people put the greatest faith in. According to Alona Shevtsova, shareholder and Chairman of the Supervisory Board of IBOX BANK, “we are extremely proud of such indicators and will continue to work to achieve even better results.”

The management of the National Bank of Ukraine highlights the fact that the majority of banks managed to remain profitable despite the fact that the total loss of banks for the first half of the year amounted to UAH 4,647 billion.

The aggregate profit for the six-month period beginning in January and ending in June was close to 10 billion UAH (UAH 9.992 billion). 46 different financial institutions, who together account for about 70% of the market, contributed to its creation.

The transactional bank known as IBOX BANK has joined the ranks of such financial institutions and is now ranked ninth in the ranking, surpassing the likes of Vostok Bank, Concord Bank, and Kredobank in the process.

IBOX BANK was successful in elevating its long-term credit rating to the highest possible level earlier in this year. The rating is now uaAAA.

IBOX BANK was granted approval for a revised version of its charter by the National Bank of Ukraine a few months ago in conjunction with an increase in the amount of authorised capital that brought it up to 741 million UAH. This was done through the Committee on Supervision and Regulation of Banks and Supervision of Payment Systems.

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