Politics 2024-01-15T04:55:36+02:00
Ukrainian news
Banks lose UAH 1.1 billion in September

Banks lose UAH 1.1 billion in September

banks, UAH, September, Billion, lose
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In September, the loss of banks amounted to UAH 1.064 billion.

This is evidenced by the data of the National Bank, the Ukrainian News agency reports.

In the first nine months of 2022, solvent banks received UAH 7.4 billion in net profit compared to UAH 51.4 billion in profit in the corresponding period last year.

The return on capital of the sector for nine months of 2022 was 4.3% compared to 32.1% a year ago.

Such dynamics is largely due to the growth of deductions to reserves for incurred and expected losses because of the war.

Since the beginning of the year, banks have formed reserves in the amount of UAH 99.0 billion, including UAH 93.3 billion for the March to September period.

Net interest income growth in the first nine months of 2022 slowed to 26% year over year from 35% in the first nine months of 2021, mainly due to lower interest income in the retail segment.

In the first months of the full-scale war, all major banks offered borrowers "credit holidays," some financial institutions temporarily lowered rates on consumer loans.

Net commission income decreased by 16% year over year, compared to a 28% growth year over year.

Demand for banking services is gradually recovering from the shock of the onset of full-scale military aggression, but still remains low compared to last year.

This limits the commission income of banks.

The operational result of the banks remained positive: the net operating profit before deductions to reserves increased in 9 months by 78% year over year.

In particular, according to the results of the 3rd quarter, the net operating profit before deductions to reserves amounted to UAH 56.5 billion compared to UAH 25.7 billion in the third quarter of 2021.

As of October 1, 2022, out of 67 solvent banks, 44 institutions were profitable and had a net profit of UAH 25.6 billion, 23 were unprofitable, with a loss of UAH 18.2 billion.

As the Ukrainian News agency earlier reported, in 2021, the profit of banks amounted to a record 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.

 

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