Number of credit unions decreases by 6.1%, their members by 15.3% in H1 2021 – NBU

KYIV. Aug 31 (Interfax-Ukraine) – As of June 30, 2021, 308 credit unions were registered in Ukraine, which is 6.1% less than on the same date a year earlier (328), the number of their members decreased to 385,100 (15.3% less), the National Bank of Ukraine (NBU) has said.

According to the regulator’s information on the activities of the credit unions in the first half of 2021, 211 credit unions submitted reports to the NBU.

Some 15,100 members of credit unions have contributions to deposit accounts (22.2% less than a year ago), UAH 89,000 loan arrears, while at the end of the first half a year earlier it was UAH 105,700.

Effective assets of credit unions at the end of the reporting period amounted to UAH 2.09 billion, which is 3.9% less, ineffective assets totaled UAH 304 million (24.3% less). The capital of credit unions amounted to UAH 1.016 billion (2.2% less), revenues – UAH 405.4 million (22.2% less), expenses – UAH 419,700 (23.5% less). Retained earnings in the first half of the year amounted to UAH 26.6 million versus the uncovered loss of UAH 29.1 million at the end of the same period in 2020.

The regulator also said that at the end of the reporting period, 101,300 members of credit unions received loans in the amount of UAH 2.173 billion, which is almost the same as a year earlier, and loans were issued for UAH 1.162 billion (a rise of 1.7%) in the first half of the year.

At the end of the reporting period, credit unions members’ deposits amounted to UAH 1.188 billion (12.8% less), and during the reporting period – UAH 804.7 million (13.6% less).

Debt on overdue loans provided to members of credit unions and credit unions at the end of the period amounted to UAH 472.1 million, while a year earlier it was UAH 746.5 million.