State-owned banks report UAH 11.6B profit in Q3 2021 – Ukraine’s finance ministry

State-owned banks report UAH 11.6B profit in Q3 2021 – Ukraine’s finance ministry

Ukrinform
In the third quarter of 2021, state-owned banks sealed a profit of UAH 11.6 billion (nearly US$424,4 million), 7.6% more against the previous quarter.

That’s according to the press service of Ukraine’s Ministry of Finance, Ukrinform reports.

"Banks of the public sector in the third quarter of 2021 received a profit of UAH 11.6 billion, which is 7.6% more than the profit received in the second quarter of this year," the statement reads.

Of the total profit, 82.9% (UAH 9.6 billion, or $351.2 million) is that of PrivatBank.

Read also: Banks provided UAH 1.36B under Affordable Loans program last week

The ministry noted that in the third quarter, banks continued to expand lending services. Compared to July 1, 2021, the loan portfolio of state-owned banks increased by UAH 21.6 billion, or $790 million (by 9.2%), of which UAH 16.7 billion ($611 million) was an increase in loans to legal entities and UAH 4.9 billion ($179.3 million) – a rise of the loan portfolio for individuals.

As reported earlier, in 2020, state-owned banks reported a UAH 23.1 billion ($846 million) profit. At the same time, the profit of JSC CB PrivatBank amounted to UAH 25.3 billion, or $925,6 million (61.3% of the profit of the entire banking system).

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