The main factor of profitability remains the maintenance of a high net interest margin, due to the growth in the volume of lending and investment in government bonds.
During the nine months of 2024, solvent banks of Ukraine received UAH 118 billion. net income This was reported by the press service of the National Bank.
It was noted that in September the net income of banks increased by UAH 12 billion.
According to the National Bank, the main factor of profitability remains the maintenance of a high net interest margin, due to the growth of lending volumes and investment in government bonds. In the third quarter, the average profitability of loans and portfolios of government bonds was almost stable, and the volumes of such instruments continued to increase.
It was noted that the amount of gross hryvnia portfolio of loans given to clients increased by 14.5% since the beginning of 2024 (the net portfolio – by 23.6%), the amount of investments in government bonds – by 21.1% .
However, the cost of funding has decreased slightly following the drop in market deposit rates. Thus banks maintain a relatively high net interest margin.
Reportedly, at the end of nine months of 2024, only eight small banks out of 62 solvent were unprofitable with a total loss of UAH 342 million. These are mostly institutions with ineffective business models and several problems.
The volume of income tax payments by banks also increased, amounting to UAH 35 billion in nine months. The return on capital of banks reached 45.8% for the reporting period, which is lower than the same figure for the previous year (56.9%).
According to NBU forecasts, if the law providing for a 50% tax on bank profits in 2024 comes into force, the return on capital in the sector will decrease to approximately 30%. This will slow the capital accumulation of banks to strengthen their own stability and lend more to the economy.
Let us remind you that the net income of the state-owned PrivatBank based on the results of work in January – September of this year amounted to a record 48.35 billion hryvnia. This is 11.5% higher than the same period last year.
It was also reported that 85 bank branches have been closed in Ukraine since the beginning of the year.
Source: korrespondent
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