On April 25, 2019, Agroprosperis Bank published its official financial statements for 2018, as certified by Deloitte & Touche USC Audit Company.
According to the results of the year, the bank significantly improved its financial results:
• the net profit has grown almost four times to UAH 24.1 million
• the deposit portfolio increased by six times to UAH 543.8 million
• the loan portfolio doubled to UAH 349 million with a record low level of non-performance loans - about 0.2% versus 50% on average in the banking system of Ukraine.
In 2018, Agroprosperis Bank has constantly expanded the list of services: for legal entities, serviced accounts of conditional storage (escrow) and overdraft, for individuals began issuing cards for deposit and savings card, for farmers together with the Agroprosperis group launched a unique project for the market AP Franchise – a full range of services that simplifies the management of agribusiness and allows you to reach a higher level of profitability.
During the year, the Bank signed 10 partnership programs with leading manufacturers and suppliers of farm equipment, which allows farmers with a land area of 100 hectares to purchase quality equipment at favorable interest rates, for up to 7 years, with no mandatory first installment and no expense on the assessment and insurance of collateral.
In 2016 Agroprosperis Bank became the first bank to provide financing secured by crop receipts. In 2018, the bank continued to work with this instrument and signed 62 financial crop receipts during the year.
In October, the bank opened a direct correspondent account in ING Belgium, which is an absolute achievement for any Ukrainian bank amid a significant reduction of the correspondent network in Ukraine by US and European banks. Also during the year, the bank maintained a credit rating at the investment level uaAA and the highest deposit rating on ua1 level.
"We successfully ended the year, having significantly increased the assets and profitability of the business," commented Serhii Shchepanskyi, Chairman of the Board. - For three years, the bank has doubled its agribusiness loan portfolio annually and, in order to expand lending to farmers, in February this year, we have attracted a loan of EUR 5 million from the European Fund for South-East Europe (EFSE). As of today, our loan portfolio has already exceeded UAH 560 million, which is one and a half times the result of 2018».
As for the services for individuals, according to Serhii Shchepanskyi, Agroprosperis Bank this year begins to develop a network of branches and online services, and the opening of the second branch is planned very soon.
