Economy 2024-05-15T05:10:59+03:00
Ukrainian news
Banks’ Profit Up 2.1 Times To UAH 14.7 Billion In January

Banks’ Profit Up 2.1 Times To UAH 14.7 Billion In January

Ukraine, NBU, bank, bank's profit, profit of banks

In January 2023, banks received a net profit of UAH 14.7 billion, which is 2.1 times more than in the same period last year (UAH 7.1 billion).

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

"UAH 14.7 billion of net profit was received by solvent banks in January 2023, which is 2.1 times more than in the same period last year - UAH 7.1 billion," the statement says.

Bank revenues increased by 55% compared to the result of January 2022 and amounted to UAH 38.7 billion, expenses increased by 35% to UAH 24.0 billion.

In 2022, banks reduced their net profit by 68% to UAH 24.7 billion.

The sector's return on capital for the year was 10.9% compared to 35.1% a year ago.

The main factor in the decrease in profitability was a significant increase in deductions to reserves for incurred and expected losses as a result of the war.

As of January 1, 2023, out of 67 solvent banks, 46 were profitable and had a net profit of UAH 45.6 billion, which covered the losses of 21 banks in the total amount of UAH 20.8 billion.

As Ukrainian News Agency earlier reported, 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.

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