Profit of Ukrainian banks decreased by 3.4 times in 11 months
At the same time, in November, financial institutions increased this figure by 2.3 times compared to October
What happened? The profit of Ukrainian banks decreased to 19.4 billion UAH, or by 3.4 times, during the period from January to November 2022.
Source. Interfax-Ukraine citing NBU data.
Details. It is noted that last year the profit for the same period was 65.7 billion UAH. However, compared to October 2022, the profit increased from 3.6 billion UAH to 8.45 billion UAH in November. At the same time, revenues for this period increased by 12.2%, and expenses – by 9.7%.
The regulator adds that banks' revenues in January–November this year increased by 32% compared to the same period last year – to 322 billion UAH. Meanwhile, commission income for 11 months decreased by 8.4% – to 76.46 billion UAH, while for the same period last year it increased by 32.6%.
The NBU notes that the result from revaluation as well as from purchase and sale transactions is positive and amounts to 42.3 billion UAH. Last year during the same period it was negative and amounted to 2.7 billion UAH.
At the same time, the banking system's expenses in January-November 2022 increased 1.7 times, to UAH 302.6 billion, compared to this figure in 2021. In particular, allocations to reserves grew by 13.6 times, to 113 billion UAH. At the same time, commission expenses rose by 1.6% to 31.99 billion UAH.
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