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About Oschadbank
The Public Joint-Stock Company “State Savings Bank of Ukraine” was established in compliance with Decree of the Cabinet of Ministers of Ukraine of May 21, 1999, N 866 through transformation of the State Specialized Commercial Savings Bank of Ukraine into the Open Joint-Stock Company.
The founder of the Bank is the State in the person of the Cabinet of Ministers of Ukraine. JSC “Oschadbank’ is one of the largest financial institutions of Ukraine. Over 6 thousand of its offices carry out their functions, including the disbursement of pensions, social aid, processing of utility payments and other banking transactions. Taking into account its social orientation the Bank aims at maintaining a wide presence in all regions of Ukraine.
Oschadbank is the only Ukrainian bank where the deposits and other valuables of citizens are fully guaranteed by the state by law. The Bank has confirmed its status of the stable financial institution; its economic potential empowers it to meet all its liabilities.
The Bank is actively working in almost all sectors of the Ukrainian financial market; it provides services to large corporate clients, such as offices of the Pension Fund of Ukraine, UDPPZ Ukrposhta, the members of the wholesale electrical energy market at a modern level.
Oschadbank is the universal banking institution focusing its efforts on creating of favorable conditions for customers servicing, expanding of the banking services and products range in the market.
Financial calendar
This financial calendar contains preliminary dates* of future financial statements releases and other events within JSC “Ochadbank”
| 2019 | |
|---|---|
| Release of full year 2018 Audited Financial Statements under IFRS | May, 2019 |
| Release of 1st Quarter 2019 Results under IFRS | May, 2019 |
| Release of 2nd Quarter 2019 Results under IFRS | July, 2019 |
| Release of 1H2019 Interim Financial Statements under IFRS | October, 2019 |
| Release of 3rd Quarter 2019 Results under IFRS | October, 2019 |
* Subject to further update
Key figures and ratios under IFRS
| (in UAH bn) | YE 2018 | YE 2017 | YE 2016 | YE 2015 |
|---|---|---|---|---|
| Net interest income before provision | 5,46 | 5,52 | 5,89 | 5,90 |
| Net interest income | 6,63 | 3,58 | 2,69 | -9,83 |
| Net fee and comission income | 3,47 | 2,70 | 2,13 | 1,63 |
| Operating income | 8,60 | 7,70 | 6,05 | -8,01 |
| Operating expenses | -8,57 | -7,14 | -5,59 | -4,26 |
| Profit before income tax | 0,03 | 0,56 | 0,47 | -12,27 |
| (in UAH bn) | YE 2018 | YE 2017 | YE 2016 | YE 2015 |
|---|---|---|---|---|
| Total assets | 217,79 | 233,87 | 210,64 | 159,10 |
| Loans to customers | 67,54 | 74,50 | 65,95 | 65,46 |
| Customer accounts | 154,02 | 150,15 | 145,59 | 94,25 |
| Total equity | 18,56 | 31,25 | 15,75 | 7,36 |
| Share capital | 49,72 | 49,72 | 35,11 | 30,15 |
| % | YE 2018 | YE 2017 | YE 2016 | YE 2015 |
|---|---|---|---|---|
| ROAE | 0,8 | 2,4 | 4,1 | -92,3 |
| ROAA | 0,1 | 0,3 | 0,3 | -8,7 |
| Tier 1 ratio | 11,0 | 16,2 | 9,6 | 4,5 |
| Capital Adequacy Ratio (CAR) | 13,4 | 18,9 | 13 | 6,3 |
| Net Interest margin | 2,7 | 2,7 | 3,5 | 4,5 |
*annualized
Credit Ratings
| Fitch Ratings | |
|---|---|
| National long-term rating | AA (ukr) |
| Foreign currency long-term issuer default rating | B-* |
| Local currency long-term issuer default rating | B-* |
| Foreign currency short-term issuer default rating | B * |
| Viability rating | b- |
| Support rating | 5 |
| Moody’s Investors Service | |
|---|---|
| Foreign currency long term bank deposit rating | Caa2 |
| Local currency long term bank deposit rating | Caa1 |
| Foreign currency senior unsecured debt rating | Caa1* |
| Local currency senior unsecured debt rating | Caa1 |
| Baseline credit assessment | caa1 |
* ratings assigned to the Bank are brought in line with the country’s ratings
IFRS Financial Statements
2018
2017
2016
2015
2014
2013
NEWS
On May 22, in accordance with Article 7 of the Law of Ukraine "On Banks and Banking Activity", the Cabinet of Ministers of Ukraine appointed members of the Supervisory Board of the Savings Bank.
Independent members of the Supervisory Board are Sevki Acuner, Baiba Apine, Peter Briggs, Michael Weinstein, Oleksii Hrinchenko, Oleksii Reznikov.
A representative of the state from the Verkhovna Rada of Ukraine Committee on Financial Policy and Banking is Dmytro Vlasov.
A representative of the state from the Cabinet of Ministers of Ukraine is Daniel Bilak.
Appointment of independent supervisory boards of state-owned banks is a fundamental institutional reform, which shows the state's consistency in the implementation of the adopted Strategy for reforming the state-owned banking sector. For Oschadbank, it is also a precondition for further cooperation with the European Bank for Reconstruction and Development.
"Management of the bank, together with the Ministry of Finance and our European partners, is working to ensure that Oschadbank becomes commercialized and is ready for open competition, so that its corporate governance is in line with best international practices," noted Andriy Pyshnyy, Chairman of the Management Board of Oschadbank. – “A personal task for each member of the Management Board and, above all, for me - to ensure the fastest and most profound involvement of the new Supervisory Board in the bank's issues in order to update the Strategy and fulfill its tasks. We have a number of projects and initiatives requiring both the implementation of corporate governance based on the best international practices and the consistency of the course that has been taken and is aimed at the bank’s development."
Special focus of the bank’s shareholder in the person of the Ministry of Finance of Ukraine was on the transparency of the selection of candidates with the involvement of leading human resource agencies, which in turn were selected with the participation of international organizations. The winners, according to the results of the interviews and their evaluation, in line with the set criteria, were determined by the competition commission consisting of the representatives from the Committee of the Verkhovna Rada, the President, and the CMU.
For the first time in history, the majority in the Supervisory Boards of state-owned banks will be represented by independent directors. One of the independent directors will also be the head of the Supervisory Board. The election of an independent Supervisory Board will facilitate the implementation of the approved Development Strategy, increase the effectiveness of risk management, which will result in an increase in the profitability and attractiveness of Oschadbank for investors.
Oschadbank’s press service
May 23, 2019