Finance & Credit Bank reports UAH 187 mln net loss in 1H09

Finance & Credit Bank tallied a UAH 187.4 mln net loss in 1H09, it said in a company filing; this compares to its UAH 98.4 mln net income in 1H08. Finance & Credit said that its assets equaled UAH 17.6 bln as of July 1, 2009, down 4.6% yoy; and its liabilities amounted to UAH 15.3 bln, down 4.1% yoy. Finance & Credit was Ukraine’s #14 largest bank by assets, as of April 1, according to the National Bank of Ukraine. Andrii Parkhomenko: Finance & Credit Banks reserves covered 6.6% of its loan portfolio, as of end-June. The bank’s equity-to-assets ratio stood at 13.0%, slightly lower than the banking system’s average of 13.4%.