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Banks in Ukraine increased its profit by 11 times – national Bank

Банки в Украине нарастили прибыль в 11 раз, - НацбанкAccording to the NBU, in the first 11 months of 2018, the banking sector received 20 billion UAH of profit.

For 11 months of this year, the banking sector received 20 billion UAH of profit, which is 11 times more compared to the same period of the previous year. This was announced by first Deputy Chairman of the NBU Kateryna Rozhkova in Facebook.

“20 billion UAH. This is the result of the banking system during 11 months of this year. Last year this figure was 11 times less. We already mentioned that sector this year will get a profit that may become a record in more than a decade. And most importantly – real”, – she wrote.

According to forecasts Rozhkova in 2019, the profitability of the sector will remain high.

“Of course, the year isn’t over yet, still there are various adjustments, including the costs of formation of reserves, but the increase in interest income by almost 20%, Commission to 25%, suggests that the banking sector is slowly but surely recovering,” she said.

The Chairman reported that since new year the NBU will introduce a new instrument in the capital structure of banks – a “perpetual” subordinated debt. “Of course it sounds a bit scary, but trust me – it is effective and proven in other countries a tool that will allow to increase capitalization, and hence the stability of the banking sector”, – said Rozhkov.

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