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12.04.2011

PT Platinum Public Limited reports 2010 Consolidated IFRS Results



PT Platinum Public Limited (hereafter Platinum Bank) ended the financial year 2010 with a consolidated net profit of $10.7 million. End of year 2010 Capital Adequacy Ratio (CAR) stood at 55% and Return on Equity (ROE) reached 12%. Platinum Bank’s unsecured portfolio increased by 21%.

Following last year’s record results (90% Capital Adequacy and 9% ROE), Platinum Bank’s 2010 results confirmed once again its’ reputation of a strong, safe institution with an ability to grow and manage risk at the same time. 2010 outstanding performance allowed Platinum Bank to post a significant profit and related ROE.

Greg Krasnov, Platinum Bank CEO, noted: "2010 for us was a year of growth. We significantly expanded our Branch network (33 branches), signed a deal to acquire Home Credit Bank (Ukraine) and increased our loan portfolio by more than 20%. These results are unprecedented compared with other banks operating in Ukraine."

Todd Esposito, Platinum Bank CFO, added: "Strong underlying fundamentals positioned us for another outstanding performance in 2010 and provided a further base for continued solid results in the future. We continue our focus on financial stability and responsibility in all areas of retail and SME banking. While 2008-2010 were the years of entrenchment and net losses for the banking industry worldwide, Platinum Bank showed that it is possible to grow profitability when you have a proper business model.”
The complete 2010 IFRS financial statements are available at our corporate web-site at: http://www.platinumbank.com.ua/view.auditfs/

NOTES TO EDITORS:
Platinum Bank – is a specialized Retail/SME bank, which has been offering deposit and loan products for individuals and small businesses through a network of branches and points of sale across Ukraine since 2005.  The main shareholders of Platinum Bank are international investment funds Horizon Capital, East Capital Financials Fund, Management and IFC (a World Bank company).


 

For Your Reference:
Platinum Bank is one of the biggest players in the national banking system. It belongs to the 1st Group of Banks according to the rating of the National Bank of Ukraine (over 0.5% of assets of the Banking System of Ukraine). Its regional network includes 69 branches and 1080 points of sales in various regions of Ukraine.
One of the top strategic priorities of Platinum Bank is transactional business. In 2016 Platinum Bank became one of the leaders in crediting for individuals among Ukrainian banks. It is also one of the annual leaders on the market in consumer credit segment.
Also, Platinum Bank is actively working on its Digital Bank project. Among others, it actively develops its pay.ptclick.com.ua platform and Platinum Lab – a lab of financial innovations.
At the same time Platinum Bank actively engages more and more corporate clients, first and foremost in distribution and IT business.
Follow Platinum Bank on Facebook

 

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