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Ukrainian banks increase profit by more than one third in Jan-Sept – NBU
KYIV. Oct 29 (Interfax-Ukraine) – In January-September 2021, solvent banks of Ukraine saw UAH 51.4 billion of net profit, which is 37% more than in the same period of 2020 (UAH 37.6 billion), according to data published on the website of the National Bank Ukraine (NBU) on Friday.
According to them, banks’ net interest income for the three quarters of this year grew by 35%, to UAH 84 billion versus UAH 62.1 billion in the same period last year, and net fee and commission income rose by 28%, to UAH 41.5 billion, thanks to low cost of resources, increased lending and growth in the volume of non-cash transactions.
The sector’s return on equity increased to 32% compared to 24% a year earlier, including due to a reduction in reserves by 63% year-over-year, to UAH 7.7 billion.
As of October 1, 2021, 64 out of 71 solvent banks were profitable and saw a net profit of UAH 51.7 billion, which covered the losses of seven banks for a total of UAH 0.3 billion.
