On April 18, 2025, the Council of the National Bank of Ukraine approved the Consolidated Financial Statements and the Consolidated Management Report of the National Bank of Ukraine for 2024.
This is stated in the NBU's message, Ukrainian News Agency reports.
As of December 31, 2024, the currency of the National Bank's balance sheet amounted to UAH 2,700 billion (in 2023 - UAH 2,392.6 billion).
The main components of the National Bank's assets as of the end of 2024:
- assets that form international reserves, the largest share of which was:
- securities of non-residents, the volume of which is UAH 1,235.9 billion;
- funds and deposits in foreign currency, the volume of which is UAH 487.1 billion;
- Ukrainian securities - UAH 714.8 billion.
The main changes in the assets of the National Bank in 2024 are due to an increase of 8% in the volume of international reserves - up to USD 43.8 billion at the end of 2024 (from USD 40.5 billion at the end of 2023), in particular, an increase in:
- by 15% in the volume of non-resident securities;
- by 30% in funds and deposits in foreign currency.
The liabilities of the National Bank as of December 31, 2024 amounted to UAH 2,132 billion, which is 79% of the balance sheet currency (liabilities).
The main changes in the liabilities of the National Bank occurred by items:
- banknotes and coins in circulation, the volume of which increased by 7.6% to UAH 822.6 billion;
- funds of state and other institutions, the volume of which increased 2 times and amounts to UAH 278.2 billion;
- certificates of deposit issued by the National Bank of Ukraine, the volume of which decreased by 11.7% and amounts to UAH 548.9 billion.
The increase in the size of the National Bank's equity capital in 2024 by 35% - from UAH 420.1 billion to UAH 567.6 billion - occurred mainly due to the increase in revaluation reserves, which is mainly due to the change in the official exchange rate of the hryvnia to foreign currencies.
The financial result of the National Bank for 2024 amounted to UAH 231 billion.
The main components of the National Bank's financial result are:
- net interest income in the amount of UAH 17.6 billion;
- positive revaluation of financial instruments in the amount of almost UAH 200 billion, which is a consequence of the change in the official exchange rate and their fair value. Part of this revaluation - UAH 128.6 billion - is an unrealized (preliminary) result from the change in the official exchange rate, which, in accordance with the requirements of the Law of Ukraine "On the National Bank of Ukraine", is accumulated in the form of a revaluation reserve in the capital of the National Bank.
The National Bank's expenses related to the production of banknotes, coins and other products, personnel costs, administrative and other expenses in 2024 amounted to UAH 8.1 billion (in 2023 - UAH 7.0 billion).
Thus, according to the results of 2024, the profit before distribution of the National Bank amounted to UAH 102.7 billion.
This amount will traditionally, in accordance with the Law of Ukraine "On the National Bank of Ukraine", be partially directed to the general reserves of the National Bank until they reach the level of 10% of the average annual volume of monetary and credit liabilities of the National Bank (UAH 18.5 billion), and the remaining UAH 84.2 billion (UAH 84,158,469,950.24) will be directed to the State Budget of Ukraine, after agreeing on the terms with the Ministry of Finance of Ukraine.
The Council of the National Bank, agreeing with the validity of the approaches, estimates and judgments applied by the National Bank, approved the Consolidated Financial Statements of the National Bank for 2024, taking into account the received report of the independent auditor.
Based on the results of the external audit of the Consolidated Financial Statements of the National Bank for 2024, the auditing firm Ernst & Young Audit Services LLC expressed a qualified opinion on the issue of forming reserves for expected credit losses under government bonds denominated in hryvnia, which are in the portfolio of the National Bank and are accounted for at amortized cost.
As Ukrainian News Agency earlier reported, as indicated in Note 5 to the Consolidated Financial Statements, the National Bank, based on the analysis of all information available to it, believes that government bonds are conditionally free of credit risk and, accordingly, no reserve is formed for them. The Government of Ukraine always fulfills its obligations under government bonds.
Taking into account the unprecedented volumes of external financial assistance, the National Bank believes that the issuer of government securities has the potential to fulfill its contractual obligations in the national currency to the National Bank in the short term.
The report of the auditing firm Ernst & Young Audit Services LLC also contains an explanatory paragraph regarding the uncertainty of the impact on the activities of the National Bank of the Russian Federation's military aggression against Ukraine. The audit opinion was not modified on this matter.
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