Ukrainian banks post UAH 13.2 bln in net profit in Q1 - NBU

The press service of the National Bank of Ukraine (NBU) wrote this on its Facebook page.

"The banking system continues to increase profit. In the first quarter of 2019, Ukrainian solvent banks posted UAH 13.2 billion of net profit. In the relevant period last year, the banking system received a net profit of UAH 8.7 billion," reads the report.

According to the National Bank, banks' revenues grew by 29% in January-March 2019, to UAH 58 billion, while expenditures increased by 23%, to UAH 44.8 billion.

In particular, banks’ profits grew due to three factors: increase in banks’ net interest income by 18%, to UAH 19.5 billion, increase in banks’ net commission income by 18%, to UAH 9.9 billion, and positive results of the revaluation and sale/purchase transactions for the amount of UAH 3.8 billion.

According to the report, the central bank expects that the banking sector's profitability will remain high in 2019.

As Ukrinform reported, Ukrainian solvent banks received UAH 21.7 billion in net profit in 2018. Ukraine's banking system was last profitable in 2013, when its profit amounted to UAH 1.4 billion.

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