The only profitable month this year for Oschadbank was January – more than UAH 1.1 billion.
The State Oschadbank for the first half of the year recorded a loss of 4.03 billion Hryvnia, although for the same period last year it received 512.6 million Hryvnia profit. Finbalance reported this on Monday, July 25.
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It was determined that the loss of the state bank in June amounted to 448.6 million Hryvnia, in May – 1.3 billion Hryvnia, in April – 2.53 billion Hryvnia, in March – 199 million Hryvnia, in February – 683 million Hryvnia.
In January alone, Oschadbank declared a profit of UAH 1.126 billion.
“This is mainly due to the additional formation of reserves in the amount of UAH 5.4 billion. The need for such reserves was caused by the deterioration in the quality of the loan portfolio as a result of the Russian military attack on the territory of Ukraine. The The bank has always followed a conservative approach to building reserves,” Oschadbank said in a comment.
In addition, the reduction or cancellation of many commissions and credit holidays for borrowers, introduced by the bank for a certain period, had an effect.
“In war conditions, the bank provides high indicators of liquidity and solvency, continues to provide banking services and credit assistance to citizens and businesses,” the financial institution asserted.
It is known that the net income of Oschadbank in 2021 reached UAH 1.1 billion, which is 2.5 times less than in 2020.
Recall that in the five months of 2022, Ukrainian banks received 1.3 billion losses against 23.8 billion hryvnia profits for the same period last year. At the same time, the bank’s income increased.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.