Ukrainian banks post UAH 59 bln in net profit in January-November 2019

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

"The banking sector remains highly profitable. The main factors are high operating efficiency and low payments to reserves. Thus, in January-November 2019, solvent banks received UAH 59 billion in net profit. In the same period last year, the banking system made net profit of UAH 19.9 billion,” reads the report.

The National Bank noted that over the reporting period banks' revenues increased by 23%, up to UAH 222.1 billion, while expenditures rose by 2%, up to UAH 163.1 billion.

Banks’ profits grew due to increase in banks’ net interest income by13%, to UAH 73 billion, increase in banks’ net commission income by 15%, to UAH 40 billion, positive results of the revaluation and sale/purchase transactions for the amount of UAH 15.5 billion, and the record low amount of banks’ payments to reserves - UAH 8.6 billion against UAH 21.7 billion last year.

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