NBU Will Transfer To State Budget The Largest Amount Of Part Of Profit Before Distribution In Its History – UAH 71.9 Billion

On April 24, 2023, the Council of the National Bank of Ukraine (NBU) approved the Consolidated Management Report and Consolidated Financial Statements of the National Bank of Ukraine for 2022.

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

As of December 31, 2022, the currency of the National Bank's balance sheet amounted to UAH 1,958.6 billion (in 2021 - UAH 1,376.9 billion).

The main components of the assets of the National Bank as of the end of 2022:

- assets that form international reserves, the largest share of which are:

- securities of non-residents, the volume of which is UAH 695.5 billion;

- funds and deposits in foreign currency, the volume of which is UAH 241.5 billion;

- securities of Ukraine - UAH 757 billion;

- loans granted to banks and other borrowers - UAH 40.8 billion.

The main changes in the assets of the National Bank in 2022 are caused by:

* an 8% decrease in the volume of international reserves - to USD 28.5 billion by the end of 2022 (from USD 30.9 billion by the end of 2021);

* doubling the volume of Ukrainian securities in the portfolio of the National Bank. This is due to the purchase in March-December 2022 of government bonds with a total nominal value of UAH 400 billion, which was necessary to maintain the continuity of budget expenditures in the conditions of full-scale armed aggression by Russia;

* a 2.4-fold decrease in the loan portfolio due to repayment by banks of long-term debt for non-performing loans.

Liabilities of the National Bank as of December 31, 2022 amount to UAH 1,630 billion, which is 83% of the currency of the balance sheet (liabilities).

The main changes in the obligations of the National Bank took place according to the following articles:

- banknotes and coins in circulation, the volume of which increased by 14% to UAH 715 billion;

- deposit certificates issued by the National Bank of Ukraine, the volume of which has doubled and amounts to UAH 457.5 billion.

The increase in the amount of the National Bank's equity capital in 2022 almost doubled - from UAH 166.9 billion to UAH 328.2 billion - occurred due to the increase in revaluation reserves, which was mainly due to the change in the official exchange rate of the hryvnia to foreign currencies.

The financial result of the National Bank for 2022 amounted to UAH 232.3 billion.

The main components of the financial result of the National Bank are:

* interest income in the amount of UAH 63.2 billion. This is 2.2 times more than in 2021, mainly due to the growth of income from securities of Ukraine (government bonds);

* positive revaluation of financial instruments in the amount of UAH 175.6 billion, which is a consequence of the change in the official exchange rate and their fair value. Part of this revaluation - UAH 142 billion - is an unrealized (preliminary) result, 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 until the realization of the relevant financial assets.

The National Bank's expenses related to the production of banknotes, coins and other products, administrative expenses, staff maintenance expenses in 2022 amounted to UAH 6.7 billion (in 2021 - UAH 5.8 billion).

Therefore, according to the results of 2022, the profit before distribution of the National Bank amounted to UAH 91 billion.

Traditionally, in accordance with the Law of Ukraine "On the National Bank of Ukraine", this amount will be partly directed to the State Budget of Ukraine, and partly to the general reserves of the National Bank.

The National Bank will transfer to the State Budget the largest amount of part of the profit before distribution in its history - UAH 71.87 billion.

As Ukrainian News Agency earlier reported, in 2015, the NBU was obliged to transfer UAH 60.5 billion of profit to the country's state budget, in 2016 - UAH 38 billion, in 2017 - UAH 44.4 billion, in 2018 the NBU transferred UAH 44.6 billion to the state budget, in 2019 - almost UAH 65 billion, in 2020 the National Bank transferred UAH 42.7 billion of profit to the state budget in one payment, in 2021 - UAH 24.43 billion in one payment.

The Ministry of Finance fulfilled the plan for borrowing to the state budget by 67.3% and attracted UAH 1,261.1 billion in 2022.

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