FUIB records 1H09 net loss of 604 mln

First Ukrainian International Bank said in a company filing that it had a net loss of 604.1 mln in 1H09, vs. net income of UAH 62.0 mln in 1H08. The lender also said its assets as of July 1 amounted to UAH 17.8 bln, down 11.9% yoy; and its liabilities were UAH 14.9 bln, down 10.7% yoy. FUIB was Ukraine’s #13 largest bank by assets as of April 1, according to the National Bank of Ukraine. Andrii Parkhomenko: The bank’s net loss results in a staggering -39.8% net margin. The loss was mostly caused by UAH 1,035 mln in reserve expenses. Meanwhile, the bank’s equity-to-assets ratio of 16.2% looks quite strong compared to Ukraine’s average of 13.4%. FUIB allocated reserves that cover 14% of its loan portfolio.