Ukraine's banking system ready for any shocks – expert

Ukraine's banking system ready for any shocks – expert

The banking sector of Ukraine is currently high-earning and profitable and, therefore, sufficiently resilient to any macroeconomic surprises.

"The banking system is much better today than it was during the 2008 or the 2014 crises, and it is now more prepared for macroeconomic surprises," Olena Korobkova, Executive Director of the Independent Association of the Banks of Ukraine, said during the presentation of the bank financial health rating at the Ukrinform news agency.

In her opinion, the readiness of the banking system for any challenges does not exclude the fact that some banks will still need additional capitalization increase.

As reported, in 2019, the banking sector of Ukraine set a historical profitability record - UAH 59.6 billion. In 2019, the public sector banks received profits of UAH 35.2 billion, indicating a 2.4-fold increase compared to 2018.

Last year, only 6 out of 75 banks operating in Ukraine were unprofitable4 their total loss amounted to UAH 0.2 billion.


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2022 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: