UBB has increased its 2015 net income by 10.4% y/y up to BGN 199.9 million before provisions


The Bank reports a net profit equaling BGN 48.9 million by maintaining for a consecutive year its leadership position in the sector in terms of high capital adequacy and sufficient liquidity.

The Bank’s equity towards the end of Y2015, amounting to BGN 1.2 billion, grew by 5% y/y, while the total capital adequacy as at the end of the reporting year stood at 28.2%.

Mr. Stilian Vatev – UBB’s Chief Executive Officer, shared with the Bank’s shareholders: „The elapsed 2015 was yet another year, during which - notwithstanding the less favourable banking environment in Bulgaria and especially the adverse events in neighbouring Greece over the first six months -UBB demonstrated its resilience and preserved its main priorities:stable capital position, positive financial results, soaring competitiveness on the banking market.

Evidence of UBB’s favourable development stands not only its past year performance, but also the results - being one of the banking system’s best -achieved over the first five months of 2016.

During the current 2016 year we will persist in our efforts to maintain active and competitive banking business and a stable market position, while, alongside, focusing onthe internal optimization of processes and organization with a particular emphasis on customer service quality. These are the issues we have given prominence to as an ultimately responsible and serious attitude, since we believe they are going to grow into our main competitive edge over the years to come.“

The General Meeting of Shareholders has released from responsibility all members of UBB’s Board of Directors as regards their activity for managing the Bank over the period 1.01.2015 - 31.12.2015 and has re-elected Mr. Teodor Marinov a BoD Member for a 3-year mandate.

The elected auditing company for performing of audit and certification of the Bank’s Y2016 Annual Financial Statements, by recommendation of the Audit Committee, is Deloitte Audit OOD.

A new 3-year mandate has been voted for two members of the Bank’s Audit Committee – Mr. Dinko Yordanov and Ms. Boyka Brezoeva.

Main financial performance indicators of UBBas of 31.12.2015:

  • Profit before provisions: BGN 199.9 million
  • Profit before tax: BGN 54.1 million
  • Provisions: BGN 145.8 million
  • Net profit : BGN 48.9 million (on solo basis ) and BGN 51.2 million (on consolidated basis)
  • Return on Assets (ROA):  0.9 %
  • Return of Equity (ROЕ):  4.8 %
  • Capital Adequacy: 28.2 %
  • Tier One Capital Adequacy: 26.1 %