Banks’ Profit UAH 77.5 Billion In 2021

In 2021, banks’ profit made UAH 77.5 billion.

The NBU has said this in a statement, Ukrainian News Agency reports.

According to the report, the main factors for the profitability of the banking sector in 2021 were a further increase in operating efficiency and a significant reduction in deductions to reserves.

Thus, the annual increase in net interest and commission income amounted to 39% and 25%, respectively, which was facilitated by an increase in interest income from lending, which was revived after the crisis.

Further growth in the volume of non-cash transactions ensured an increase in the commission income of banks.

The rapid growth of net interest and fee income, compared to operating expenses, improved the operational efficiency of banks.

As Ukrainian News Agency reported, in 2020, the profit of banks decreased by 29% to UAH 41.3 billion.

In 2019, solvent banks received UAH 59.634 billion of net profit.