Banks have learned to work efficiently, taking into account possible risks, said the head of the NBU, Andriy Pyshny.
The net profit of solvent Ukrainian banks in January-September 2022 amounted to UAH 7.4 billion, compared to UAH 51.4 billion profit for the corresponding period of 2021. The banking system has been profitable for three consecutive months, the report of the National Bank on Monday, November 7.
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According to the regulator, the income of banks in January-September of this year reached UAH 255.08 billion, and expenses – UAH 247.71 billion.
At the same time, it was indicated that the banks had built up a large amount of reserves for expected losses due to the consequences of the war. Allocations to reserves increased 13 times compared to January-September 2021, to almost UAH 99 billion.
As the head of the NBU, Andriy Pyshny, noted, the maintenance of the operating profit of the banking sector during the war is evidence that the business models of banks are focused on profit, taking into account a balanced approach to danger.
“Banks have learned to work efficiently by diversifying their own portfolios, taking into account interest rate, market, credit and operational risks.
As of October 1, out of 67 solvent banks, 44 institutions were profitable and received a net profit of UAH 25.6 billion, 23 were unprofitable with a loss of UAH 18.2 billion.
Recall that in 2021, Ukrainian banks received a record profit of UAH 77.530 billion, which is 95.2% more than in 2020 (UAH 39.727 billion).
Economic activity is stabilizing – NBU
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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.