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Ukrsibbank Q1 2017 Q1 2016 Interest income 29 38 Interest expense -6 -14 Net interest income 23 24 Net commission income 12 10 Trading & other income 3 7 Employee costs -10 9 Depreciation -1 -1 Administrative and other -6 -6 operating costs Other provisions 0 0 General & Admin. -18 -16 Expenses Pre Provision Income 20 25 Provision for loan 9 -56 impairment Profit before tax 11 -31 Income tax expense -2 -0 Net profit 8 -31 Please see summary of 2016 audited financial statements for Ukrsib, Ukrgas and Raiffeisen as well as their 1Q17 statements in Appendix I. The bank is overcapitalised at 21.37% CAD mainly due to subordinated debt provided by EBRD in USD during the years of crisis. About EUR 135 million were outstanding at 1.5% (1Q17: EUR 104 million) with their contribution to regulatory capital being EUR 73 million which is equivalent to 7.51% CAD ratio. The minimum CAD required by NBU is 10%. 71% of the subordinated is due to be repaid in 2019. 16 HOUSE_OVERSIGHT_026149