20 April 2021, Tuesday, 18:32 110

NBU Council Approves Transfer Of UAH 24.4 Billion Out Of NBU’s 2020 Profit Into State Budget

Редактор: Tetiana Herasimova

The Council of the National Bank of Ukraine (NBU Council) has approved transfer of UAH 24.4 billion out of the profit that the National Bank of Ukraine made in 2020 into the state budget.

The National Bank of Ukraine announced this in a statement, the Ukrainian News Agency reports.

According to the statement, the NBU Council approved the National Bank of Ukraine’s consolidated financial statements for 2020, which has been confirmed by the independent audit firm Ernst & Young Auditing Services LLC, on Tuesday, April 20.

The amount of 2020 profit to be distributed by the National Bank of Ukraine is UAH 40.7 billion.

In accordance with the law "On the National Bank of Ukraine," the bank’s profit is transferred into the state budget and the bank’s general reserves.

"The National Bank will transfer UAH 24.4 billion out of its profits into the state budget in 2021. Accordingly, the state will receive almost UAH 2 billion more than the National Bank expected when it forecast the amount to be included in the current budget last year. The National Bank will transfer the funds in accordance with the schedule agreed with the Ministry of Finance," the National Bank of Ukraine’s first deputy head Kateryna Rozhkova said.

According to the statement, the National Bank of Ukraine previously forecast that UAH 22.6 billion out of its profit would be transferred into the 2021 state budget.

The remainder of the profit (UAH 16.3 billion) will be used to increase the National Bank of Ukraine’s general reserves in accordance with the requirements of the law.

As Ukrainian News Agency earlier reported, the NBU Council approved the transfer of UAH 42.7 billion out of the National Bank of Ukraine's profit into the state budget in 2020.

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