United Bulgarian Bank

UBB's net profit fell 142% to BGN -47.4 mil in 2017

By Helgi Analytics - September 2, 2018

United Bulgarian Bank made a net profit of BGN -47.4 mil under revenues of BGN 346 mil in 2017, up -142% and -14.7% respectively comp...

UBB's mortgage loans fell 5.68% to BGN 868 mil in 2017

By Helgi Analytics - September 20, 2018

United Bulgarian Bank's mortgage loans reached BGN 868 mil in 2017, down 5.68% compared to the previous year. Bulgarian banking...

UBB's npls (as % of loans) fell 14.8% to 23.6% in 2017

By Helgi Analytics - September 2, 2018

United Bulgarian Bank's non-performing loans reached 23.6% of total loans at the end of 2017, down from 27.7% compared to the pre...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 257 256 224
Fee Income (As % Of Revenues) % 24.8 23.0 27.1
Other Income BGN mil 20.1 57.1 28.3
Total Revenues BGN mil 369 406 346
Staff Cost BGN mil 65.3 74.6 70.3
Operating Profit BGN mil 200 238 168
Provisions BGN mil 146 115 222
Net Profit BGN mil 50.2 112 -47.4
Balance Sheet 2015 2016 2017
Interbank Loans BGN mil 158 327 1,555
Customer Loans BGN mil 4,193 3,860 3,295
Debt Securities BGN mil 1,155 1,750 1,464
Total Assets BGN mil 6,549 6,837 7,365
Shareholders' Equity BGN mil 1,229 1,092 989
Interbank Borrowing BGN mil 62.8 87.1 443
Customer Deposits BGN mil 5,086 5,566 5,887
Issued Debt Securities BGN mil 142 55.7 1.87
Ratios 2015 2016 2017
ROE % 4.18 9.64 -4.55
ROA % 0.764 1.67 -0.667
Costs (As % Of Assets) % 2.58 2.52 2.51
Costs (As % Of Income) % 45.8 41.5 51.5
Capital Adequacy Ratio % 28.2 24.3 24.3
Net Interest Margin % 3.92 3.82 3.16
Loans (As % Of Deposits) % 82.4 69.3 56.0
NPLs (As % Of Loans) % ... 27.7 23.6
Provisions (As % Of NPLs) % ... 54.4 67.0
Growth Rates 2015 2016 2017
Total Revenue Growth % 7.79 10.0 -14.7
Operating Cost Growth % 5.96 -0.466 5.95
Operating Profit Growth % 9.39 18.9 -29.4
Net Profit Growth % -35.0 123 -142
Customer Loan Growth % 1.07 -7.94 -14.6
Total Asset Growth % -0.385 4.40 7.71
Customer Deposit Growth % -0.507 9.45 5.76
Shareholders' Equity Growth % 4.95 -11.2 -9.45
Employees 2,692 2,620 2,600

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summary Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                            
Net Interest Income BGN mil               300 227 212 241 257    
Total Revenues BGN mil               399 335 311 343 369    
Operating Profit BGN mil               223 160 144 183 200    
Net Profit BGN mil               11.4 -42.2 19.4 77.2 50.2    
balance sheet                            
Interbank Loans BGN mil               389 221 721 923 158    
Customer Loans BGN mil               4,860 4,552 4,230 4,149 4,193    
Debt Securities BGN mil               256 679 1,208 878 1,155    
Total Assets BGN mil               6,699 6,347 6,718 6,575 6,549    
Shareholders' Equity BGN mil               1,108 1,070 1,092 1,171 1,229    
Interbank Borrowing BGN mil               996 241 197 83.6 62.8    
Customer Deposits BGN mil               4,326 4,756 5,202 5,112 5,086    
Issued Debt Securities BGN mil ... ...           255 255 204 153 142    
ratios                            
ROE %               1.04 -3.87 1.79 6.82 4.18    
ROA %               0.161 -0.647 0.297 1.16 0.764    
Costs (As % Of Assets) %               2.49 2.67 2.56 2.40 2.58    
Costs (As % Of Income) %               44.2 52.1 53.7 46.6 45.8    
Capital Adequacy Ratio % ...             15.6 14.0 14.8 27.4 28.2    
Net Interest Margin %               4.25 3.49 3.25 3.62 3.92    
Interest Income (As % Of Revenues) %               75.2 68.0 68.3 70.3 69.7    
Fee Income (As % Of Revenues) %               21.2 24.1 26.4 25.4 24.8    
Staff Cost (As % Of Total Cost) %               33.9 45.3 49.2 53.5 38.6    
Equity (As % Of Assets) %               16.5 16.9 16.3 17.8 18.8    
Loans (As % Of Deposits) %               112 95.7 81.3 81.2 82.4    
Loans (As % Assets) %               72.5 71.7 63.0 63.1 64.0    
NPLs (As % Of Loans) % ... ...           14.4 17.1 19.4 20.5 ...    
Provisions (As % Of NPLs) % ... ...           71.4 80.0 81.7 84.9 ...    
income statement Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                            
Interest Income BGN mil               491 418 379 351 308    
Interest Cost BGN mil               190 190 166 111 50.2    
Net Interest Income BGN mil               300 227 212 241 257    
Net Fee Income BGN mil               84.9 80.6 82.0 87.1 91.7    
Other Income BGN mil               14.2 26.5 16.6 14.7 20.1    
Total Revenues BGN mil               399 335 311 343 369    
Staff Cost BGN mil               59.9 79.0 82.2 85.4 65.3    
Depreciation BGN mil               20.8 16.1 17.6 14.3 11.9    
Other Cost BGN mil               95.8 79.1 67.3 60.0 92.0    
Operating Cost BGN mil               176 174 167 160 169    
Operating Profit BGN mil               223 160 144 183 200    
Provisions BGN mil               209 207 122 96.4 146    
Extra and Other Cost BGN mil               0.441 0 0 0 -2.74    
Pre-Tax Profit BGN mil               14.0 -46.9 21.7 86.4 56.8    
Tax BGN mil               2.46 -4.85 2.07 8.99 5.69    
Minorities BGN mil               0.148 0.175 0.231 0.266 0.278    
Net Profit BGN mil               11.4 -42.2 19.4 77.2 50.2    
growth rates                            
Net Interest Income Growth % ...             -20.0 -24.3 -6.65 13.3 6.97    
Net Fee Income Growth % ...             -14.4 -5.07 1.77 6.26 5.24    
Total Revenue Growth % ...             -19.2 -16.2 -7.06 10.2 7.79    
Operating Cost Growth % ...             -4.35 -1.23 -4.15 -4.42 5.96    
Operating Profit Growth % ...             -28.0 -28.1 -10.2 27.1 9.39    
Pre-Tax Profit Growth % ...             -80.7 -434 -146 299 -34.2    
Net Profit Growth % ...             -82.5 -470 -146 298 -35.0    
market share                            
Market Share in Revenues %               10.2 8.77 8.39 8.78 8.95    
Market Share in Net Profit %               2.41 ... 3.84 10.9 5.58   ...
Market Share in Employees % ...             9.40 9.37 7.71 8.03 8.78    
Market Share in Branches % ... ... ... ... ... ... ... 5.88 ... ... 5.35 5.29    
balance sheet Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                            
Cash BGN mil               1,040 739 447 478 888    
Interbank Loans BGN mil               389 221 721 923 158    
Customer Loans BGN mil               4,860 4,552 4,230 4,149 4,193    
Retail Loans BGN mil               2,528 2,380 2,218 2,118 1,929    
Mortgage Loans BGN mil ... ...           1,280 1,226 1,152 1,081 981    
Consumer Loans BGN mil ... ...           1,042 953 876 856 948    
Corporate Loans BGN mil               2,862 2,778 2,682 2,740 3,015    
Debt Securities BGN mil               256 679 1,208 878 1,155    
Fixed Assets BGN mil               83.4 69.3 55.1 46.1 44.0    
Total Assets BGN mil               6,699 6,347 6,718 6,575 6,549    
Shareholders' Equity BGN mil               1,108 1,070 1,092 1,171 1,229    
Of Which Minority Interest BGN mil               0.314 0.336 0.386 0.436 0.507    
Liabilities BGN mil               5,591 5,276 5,626 5,403 5,320    
Interbank Borrowing BGN mil               996 241 197 83.6 62.8    
Customer Deposits BGN mil               4,326 4,756 5,202 5,112 5,086    
Retail Deposits BGN mil               3,063 3,398 3,568 3,773 3,625    
Corporate Deposits BGN mil               1,000 1,069 1,069 1,136 1,109    
Sight Deposits BGN mil ... ... ... ... ... ... ... ... ... 1,515 1,467 1,909    
Term Deposits BGN mil ... ... ... ... ... ... ... ... ... 3,687 3,644 3,176    
Issued Debt Securities BGN mil ... ...           255 255 204 153 142    
Other Liabilities BGN mil ... ...           13.7 25.4 23.3 55.1 29.9    
asset quality                            
Non-Performing Loans BGN mil ... ...           781 901 974 1,033 ...    
Gross Loans BGN mil               5,417 5,273 5,025 5,026 4,944    
Total Provisions BGN mil               558 721 795 877 751    
growth rates                            
Customer Loan Growth % ...             -16.0 -6.33 -7.08 -1.92 1.07    
Retail Loan Growth % ...             -8.21 -5.83 -6.84 -4.48 -8.91    
Mortgage Loan Growth % ... ... ...         -3.82 -4.26 -6.00 -6.22 -9.21    
Consumer Loan Growth % ... ... ...         -10.2 -8.48 -8.17 -2.20 10.7    
Corporate Loan Growth % ...             -17.4 -2.94 -3.46 2.17 10.0    
Total Asset Growth % ...             -10.1 -5.26 5.85 -2.14 -0.385    
Shareholders' Equity Growth % ...             1.17 -3.38 2.04 7.25 4.95    
Customer Deposit Growth % ...             -1.65 9.94 9.38 -1.74 -0.507    
Retail Deposit Growth % ...             8.77 10.9 5.01 5.75 -3.92    
Corporate Deposit Growth % ...             -11.2 6.89 0.017 6.29 -2.37    
market share                            
Market Share in Customer Loans %               8.97 8.18 7.58 8.05 8.27    
Market Share in Corporate Loans %               8.57 7.92 7.64 8.84 9.89    
Market Share in Retail Loans % ... ...           10.4 9.76 8.89 8.89 9.99    
Market Share in Consumer Loans %               13.4 12.7 11.9 11.5 10.6    
Market Share in Mortgage Loans % ... ...           14.4 13.7 13.0 12.4 11.3    
Market Share in Total Assets %               11.1 9.83 9.64 9.37 8.60    
Market Share in Customer Deposits %               8.09 8.21 8.28 7.96 7.61    
Market Share in Retail Deposits %               9.92 9.85 9.46 9.61 8.51    
Market Share in Corporate Deposits %               7.31 7.49 6.92 7.40 6.09    
ratios Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                            
ROE %               1.04 -3.87 1.79 6.82 4.18    
ROA %               0.161 -0.647 0.297 1.16 0.764    
Costs (As % Of Assets) %               2.49 2.67 2.56 2.40 2.58    
Costs (As % Of Income) %               44.2 52.1 53.7 46.6 45.8    
Capital Adequacy Ratio % ...             15.6 14.0 14.8 27.4 28.2    
Tier 1 Ratio % ... ... ... ...       15.6 14.0 14.8 24.2 26.1    
Net Interest Margin %               4.25 3.49 3.25 3.62 3.92    
Interest Spread % ...             3.75 2.90 2.75 3.28 3.75    
Asset Yield %               6.93 6.41 5.80 5.29 4.69    
Cost Of Liabilities % ...             3.18 3.50 3.05 2.01 0.935    
Interest Income (As % Of Revenues) %               75.2 68.0 68.3 70.3 69.7    
Fee Income (As % Of Revenues) %               21.2 24.1 26.4 25.4 24.8    
Other Income (As % Of Revenues) %               3.55 7.93 5.35 4.31 5.44    
Cost Per Employee USD per month ...             1,113 1,378 1,840 1,841 1,187    
Cost Per Employee (Local Currency) BGN per month ...             1,565 2,098 2,712 2,794 2,022    
Staff Cost (As % Of Total Cost) %               33.9 45.3 49.2 53.5 38.6    
Equity (As % Of Assets) %               16.5 16.9 16.3 17.8 18.8    
Loans (As % Of Deposits) %               112 95.7 81.3 81.2 82.4    
Loans (As % Assets) %               72.5 71.7 63.0 63.1 64.0    
NPLs (As % Of Loans) % ... ...           14.4 17.1 19.4 20.5 ...    
Provisions (As % Of NPLs) % ... ...           71.4 80.0 81.7 84.9 ...    
Provisions (As % Of Loans) %               11.5 15.8 18.8 21.1 17.9    
Cost of Provisions (As % Of Loans) %               3.92 4.40 2.78 2.30 3.50    
other data Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                            
Branches ... ... ... ... ... ... ... 222 ... ... 199 195    
Employees ...             3,188 3,140 2,525 2,548 2,692    
ATMs ... ... ...   ... ... ... 780 800 810 ... ... ... ...
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... 29.1 28.7 37.5    

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UBB's net interest margin fell 17.3% to 3.16% in 2017

By Helgi Analytics - September 2, 2018

United Bulgarian Bank's net interest margin amounted to 3.16% in 2017, down from 3.82% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 6.70% in 2005 and an all time low of 3.16% in 2017. The averag...

UBB's customer deposits rose 5.76% to BGN 5,887 mil in 2017

By Helgi Analytics - September 2, 2018

United Bulgarian Bank's customer deposits reached BGN 5,887 mil in 2017, up 5.76% compared to the previous year. Bulgarian banking sector accepted customer deposits of BGN 76.5 bil in 2017, up 5.94% when compared to the last year. United Bulgarian Bank ac...

UBB's retail deposits rose 4.31% to BGN 3,990 mil in 2017

By Helgi Analytics - September 20, 2018

United Bulgarian Bank's retail deposits reached BGN 3,990 mil in 2017, up 4.31% compared to the previous year. Bulgarian banking sector accepted retail deposits of BGN 47.8 bil in 2017, up 5.40% when compared to the last year. United Bulgarian Bank accoun...

UBB's capital adequacy ratio fell 0.247% to 24.3% in 2017

By Helgi Analytics - September 2, 2018

United Bulgarian Bank's capital adequacy ratio reached 24.3% at the end of 2017, down from 24.3% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 28.2% in 2015 and an all time low of 12.8% in 2010. The Tier 1 ratio...

UBB's corporate deposits rose 22.8% to BGN 1,572 mil in 2017

By Helgi Analytics - September 20, 2018

United Bulgarian Bank's corporate deposits reached BGN 1,572 mil in 2017, up 22.8% compared to the previous year. Bulgarian banking sector accepted corporate deposits of BGN 22.0 bil in 2017, up 13.8% when compared to the last year. United Bulgarian Bank ...

UBB's employees fell 0.763% to 2,600 in 2017

By Helgi Analytics - September 30, 2018

United Bulgarian Bank employed 2,600 persons in 2017, down 0.763% when compared to the previous year. Historically, the bank's workforce hit an all time high of 3,188 persons in 2011 and an all time low of 2,548 in 2014. Average cost reached USD 1,293 per month p...

UBB's total revenues fell 14.7% to BGN 346 mil in 2017

By Helgi Analytics - September 20, 2018

United Bulgarian Bank generated total banking revenues of BGN 346 mil in 2017, down 14.7% compared to the previous year. Bulgarian banking sector banking sector generated total revenues of BGN 3,870 mil in 2017, down 4.62% when compared to the last ye...

UBB's customer loans fell 14.6% to BGN 3,295 mil in 2017

By Helgi Analytics - September 2, 2018

United Bulgarian Bank's customer loans reached BGN 3,295 mil in 2017, down 14.6% compared to the previous year. Bulgarian banking sector provided customer loans of BGN 59.7 bil in 2017, up 6.73% when compared to the last year. United Bulgarian Bank accoun...

UBB's costs (as % of assets) fell 0.128% to 2.51% in 2017

By Helgi Analytics - September 30, 2018

United Bulgarian Bank's cost to income ratio reached 51.5% in 2017, up from 41.5% compared to the previous year. Historically, the bank’s costs reached an all time high of 51.5% of income in 2017 and an all time low of 41.5% in 2016. When compared to total...

UBB's corporate loans fell 17.6% to BGN 2,230 mil in 2017

By Helgi Analytics - September 2, 2018

United Bulgarian Bank's loans reached BGN 3,913 mil in the 2017, down from BGN 4,544 mil compared to the previous year. Historically, the bank’s loans reached an all time high of BGN 6,854 mil in 2008 and an all time low of BGN 2,751 mil in 2006. In the...

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United Bulgarian Bank AD is a Bulgaria-based commercial bank. The Bank offers a wide range of banking and other financial services to commercial and private banking clients. Its products include loans, current and saving accounts, and deposits amongst others. In addition to providing mainstream banking products, the Group undertakes insurance activities, stock brokerage, investment in mutual funds, leasing services, real estate investment management and financial advice, amongst others. At the end of 2013, the Bank operated 210 branches and 810 ATMs in Bulgaria. The Bank was established in 1992 through the merger of 22 Bulgarian regional commercial banks. In 1997, the Bank was privatized. The Bank is headquartered in Sofia, Bulgaria. United Bulgarian Bank AD is a subsidiary of National Bank of Greece S.A.

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Finance

United Bulgarian Bank has been growing its revenues and asset by 0.372% and 3.85% a year on average in the last 3 years. Its loans and deposits have grown by -7.40% and 4.82% a year during that time and loans to deposits ratio reached 56.0% at the end of 2017. The company achieved an average return on equity of 3.09% in the last three years with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 51.5% in 2017, compared to 46.3% average in the last three years.

Equity represented 13.4% of total assets or of loans at the end of 2017. United Bulgarian Bank's non-performing loans were 23.6% of total loans while provisions covered some 67.0% of NPLs at the end of 2017.