Banks earn record-breaking UAH 110 billion profit over 9M

Solvent banks for January-September 2023 received UAH 109.9 billion of net profit compared to UAH 7.4 billion for the same period last year.

This is stated in the NBU message, Ukrainian News Agency reports.

The main factor in the profitability of the sector remains the growth of interest income, primarily from highly liquid assets.

Deductions to reserves for losses from active operations decreased compared to last year by 94.2%.

The return on equity in the sector as of October 1, 2023 was 56.9%, up from 4.3% a year ago.

Only 6 banks out of 63 solvent institutions were unprofitable with a total loss of UAH 155 million.

As Ukrainian News Agency earlier reported, banks earned UAH 95.1 billion for 8 months of 2023, in August the banks’ profit amounted to UAH 11.9 billion.
In 2022, banks reduced their net profit by 68% to UAH 24.7 billion.

In 2021, the profit of banks amounted to a record-breaking UAH 77.5 billion.

In 2020, the profit of banks decreased by 29% to UAH 41.3 billion.

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