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Ukrainian banks have sharply reduced losses

Украинские банки резко сократили убыткиUkrainian banks reduced losses five times.

For the first half of the solvent banks of Ukraine received 1.85 billion hryvnia loss after tax, which is almost 5 times less than the loss in January-June of 2016.

This is evidenced by data of the National Bank.

In June 2017 the net loss of the banking system of Ukraine amounted to 8,504 billion, mainly due to indicators of PrivatBank and Prominvestbank.

In the first quarter profit was 4.1 billion UAH (including adjusting entries as of may 15).
“The main reason for the deterioration in financial result was a significant growth in the 2nd quarter of 2017 contributions to reserves banks to 12.5 billion. The predominant share of which formed 2 banks – PrivatBank and Prominvestbank”, – explained in NBU.

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Losses PrivatBank and Prominvestbank has led to a negative financial result of state banks and banks with foreign capital, respectively.

At the end of the 1st half of the aggregate loss of state-owned banks amounted to 1.8 billion hryvnia (without taking into account the result of PrivatBank profit of 1.1 billion hryvnia), banks with foreign capital of 1.1 billion hryvnia (without taking into account the result of Prominvestbank profit of about 3.7 billion).

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The aggregate net profit of banks with private capital in the accounting period exceeded $ 1 billion.

Among the positive trends of the 1st half of the year compared to the same period last year – growth in net Commission income (34%) net interest income (3.5%).

90 solvency of the banks as of July 1, 70 banks by the end of the 1st half of the year were profitable and reported net profit of 8.22 billion, 20 banks were unprofitable with an aggregate net loss of 10.07 billion.

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