Economy 2022-09-15T04:49:19+03:00
Ukrainian news
Ukreximbank’s Profit UAH 1.6 Billion In 8M

Ukreximbank’s Profit UAH 1.6 Billion In 8M

Ukreximbank, profit, Ukrainian Export-Import Bank

In the first eight months of 2021, the Kyiv-based Ukrainian Export-Import Bank (Ukreximbank) reported a net profit of UAH 1.64 billion.

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

According to the report, the preliminary achievement of this indicator was planned under the strategy of the state bank based on the results of the full reporting year of 2021.

It is noted that for the same period in 2020, the bank received a loss of UAH 1.88 billion.

"In August, despite the traditional seasonal decline in business activity of clients, the bank's profit amounted to UAH 279 million, and the key growth drivers were both an increase in net interest income due to an active increase in the loan portfolio in the July – August period, and an increase in fee and commission income against the background of a balanced approach to the formation of the bank's expenses," the chairman of the board of Ukreximbank Yevhen Metzger is quoted in the message.

According to him, the current profit was formed mainly due to positive operating activities by optimizing currency and credit risks, since they were one of the main factors that negatively influenced the financial stability of the bank at the time of the development of the new strategy.

As Ukrainian News Agency earlier reported, at the end of 2020, PrivatBank was the most profitable, and Ukreximbank was the most unprofitable.

Ukreximbank posted a loss of UAH 5.59 billion for 2020.

100% of shares in the Ukreximbank public joint-stock company belong to the state.

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