Profit of Ukrainian state banks doubled last year – Finance Ministry

"Following the results of 2019, state-owned banks received UAH 35.2 billion worth of profit, which is 2.4 times more than in 2018 (UAH 14.6 billion)," the report reads.

Meanwhile, UAH 32.6 billion of the total profit received by Ukrainian banks was generated by PrivatBank CB JSC.

In the last quarter of 2019, there was an increase in the size of assets of state-owned banks due to the growth in cash and cash equivalents (by 63%, or UAH 31.5 billion), the NBU’s funds (by 2.1 times, or UAH 27.0 billion) and interbank loans (by 41%, or UAH 25.1 billion).

There was also an increase in customer deposits (by 11%, or UAH 60.6 billion). Thus, the amount of deposits in the corporate sector grew by 27.6%, or UAH 54.1 billion, of individuals - by 5.5%, or UAH 17.6 billion.

As Ukrinform reported, in 2019, the banking sector of Ukraine set a record for profitability. Its total profit amounted to UAH 59.6 billion.

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