Bank profits have been affected by measures introduced to reduce the credit burden since the start of the full-scale war.
The net income of the state-owned PrivatBank for the nine months of 2022 amounted to UAH 13.8 billion. This is 7.4 billion hryvnias less than the corresponding period last year, the bank’s press service reported on Monday, November 14.
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The bank’s profit was affected by the measures introduced to reduce the credit burden since the beginning of the general war: suspension of interest accrual, credit holidays, restructuring.
In addition, due to a decrease in the solvency of the population, especially in the “red zones”, the bank has formed UAH 9.4 billion of reserves for credit risks.
“Privileges introduced since the beginning of the war and canceled commissions affected the decrease of net fee and commission income by UAH 2.7 billion compared to last year,” the report said.
Thus, the income from payments in retail trade networks (acquisition) reached half the level of the previous year, with a relatively unchanged volume of transactions.
At the same time, on November 1, the balances in the current accounts of clients in Hryvnia increased by 43% compared to the beginning of the year.
Remember that Ukrainian banks record profits for three months in a row. In January-September 2022, their net income reached UAH 7.4 billion, compared to UAH 51.4 billion for the corresponding period of 2021.
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Source: korrespondent
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