Raiffeisen Bank Aval discloses 1Q09 results
27 April 2009
Raiffeisen Bank Aval (BAVL), in a company filing, reported an increase in net interest income in 1Q09 by 44% yoy to UAH 1064 mln, a rise in provisions for bad loans of 5.7x yoy to UAH 1094 mln, and a net loss of UAH 369 mln (vs. UAH 336 mln net income in 1Q08). The bank’s customer accounts decreased by UAH 1.6 bln over 1Q09, or by 6%, one of the best results in the banking system (total system outflow was about 15% qoq).
