In 2006, RBA substantially expanded its operations with total assets increasing by 144.8% to reach €5.4bn and Tier 1 capital increased by 244.4% to €561m. The acquisition and significant restructuring of the bank also led to a massive 442.4% increase in net profits to reach €66.9m.
The new structure allowed the bank to maintain its leading position in a number of key product segments and considerably increase the number of its clients. By the end of 2006, RBA was providing services to more than 3.9 million households and about 240,000 large, medium and small enterprises as its clients, being serviced through the branch network with more than 1300 offices throughout Ukraine.
The restructuring, new technology, rebranding and centralisation of certain business activities has provided a platform for growth, increased productivity and efficiency. In 2006, RoE was lifted to 18.56% from 11.62% the year before and the cost-income ratio was on the road to improvement, coming down to 61.45% from 67.87% the previous year.
“We consider this award as recognition for the bank’s dynamic growth during the past year – and the transformation from a successful local bank to a member of one of the leading banking groups in central and eastern Europe. It also confirms our successful integration into the Raiffeisen International Group,” says RBA CEO Volodymyr Lavrenchuk.
“This year, the bank has celebrated its 15th anniversary, and such an outstanding award is a very nice present indeed. In the next year, we will remain committed to further implementing our ambitious plans regarding, among others, streamlining our branch network, upgrading the IT system, improving and developing services, entering the asset management market and strengthening our position in the capital markets. This award is a powerful motivation for us to continue working towards our objectives.”
