Platinum Bank presents the consolidated IFRS results for the first half of 2010
Platinum Bank presents its unaudited financial results under IFRS standards for the first half of 2010. As for the bank report the net income makes up 43.7 million UAH (annualized ROE 11%) against the first half of the last year, when the net profit totaled 26.2 million UAH. The net portfolio of consumer loans and cash loans increased by 28,5% and 72% in annual terms.
«Platinum Bank continues to show very strong results in the midst of the worst crisis of our times. The results continue to show our focus on growth with strong controls over risk and operating expenses. In addition, in the second half of 2010 the bank is planning to expand its branch network to 50 branches throughout Ukraine, and increase lending, mortgage lending is running for mortgages and loans for small and medium businesses", explained Todd Esposito, Chief Financial Officer, Board Member of Platinum Bank.
Consolidated business performance under IFRS standards you can found on the corporate website of the bank following: http://www.platinumbank.com.ua/view.factsheet/
Platinum Bank (www.platinumbank.com.ua) is a specialized retail bank founded in 2005 which provides deposit and loan products for individuals through a network of branches and customer service offices throughout Ukraine. On January 1, 2010, Platinum Bank's consolidated assets totaled 1.5 billion UAH. The main shareholders of Platinum Bank are Investment Fund Horizon Capital, and other leading international funds, such as: East Capital Financials Fund and IFC (a subsidiary of the World Bank).