Banks earned a record-breaking profit during the war - UAH 67.6 billion in the first half of 2023.
This is evidenced by the National Bank of Ukraine data, the Ukrainian News agency reports.
Thus, in the first half of 2023, the profit of the banking system amounted to UAH 67.6 billion.
In the first half of 2022, banks demonstrated a negative financial result of - UAH 4.6 billion.
In the same period of 2021, banks earned UAH 30.077 billion; in 2020, banks' profits amounted to UAH 23.790 billion.
The profit was slightly higher in the first half of 2019 - banks received UAH 31 billion in net profit.
In the first half of 2018, banks made a net profit of UAH 8.3 billion, while in the first half of 2017, the net losses of the banking system (banks that were solvent as of the reporting date) amounted to UAH 1.85 billion.
As the NBU explained, the sector's profitability in 2023 remains the interest income growth, primarily from highly liquid assets and insignificant amounts of reserve formation.
Banks' operating income increased by 35% year over year.
Net interest income for the first half of the year increased by 41% year over year.
Despite the increase in interest expenses as a result of the increase in interest rates on deposits, interest income increased significantly.
Despite a certain slowdown in the spring months, in particular, due to a decrease in card transactions, net commission income increased by 22% year over year.
Net operating profit before deductions to reserves increased in the first half of 2023 by 57% year over year to UAH 87.4 billion.
The pace of deductions to reserves for losses from active operations decreased by 92% compared to the indicators of the first half of last year.
Since the beginning of the full-scale invasion, banks have formed reserves for loans worth UAH 103 billion.
The sector's return on equity as of July 1, 2023, was 56%, compared to minus 4% a year ago.
The income tax calculated for the six months exceeded the corresponding annual indicator of the historically most profitable year, 2021.
As of July 1, 2023, only eight banks out of 65 solvent institutions were unprofitable, with a total loss of UAH 112 million.
As the Ukrainian News agency earlier reported, in 2022, banks reduced their net profit by 68% to UAH 24.7 billion.
In 2021, banks' profit amounted to a record UAH 77.5 billion.
In 2020, banks' profits decreased by 29% to UAH 41.3 billion.
In 2019, solvent banks received UAH 59.634 billion in net profit.
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