NBU: In may, the profit of the Ukrainian banks was reduced by 30%

НБУ: В мае прибыль украинских банков сократилась на 30%

Solvent banks of Ukraine in may 2020 received 3,756 billion UAH of net profit, which is 29,3% less than in the same period of 2019 (5,313 billion), according to data published on the website of the National Bank of Ukraine.

According to them, for five months the net profit of banks increased by 23.6% to 28,964 billion UAH to the corresponding indicator a year earlier (23,428 billion UAH).

In particular, banks ‘ profits for the reporting period increased by 10.8% compared with the figure for the same period last year– up to 109,53 billion. Including interest income decreased by 525 million UAH (0,8%) to 63,19 billion, while fee and Commission income and the result from revaluation and from operations sales increased by 5.7% (to 25.72 billion) and 2.6 times (to 16.97 billion), respectively.

However, the costs of the banking system amounted to 80,57 billion, which is 6.8% more than five months of 2019. In particular, interest expenses decreased 6.7% to 28.86 billion, while commissions increased by 28.1%, to 8.89 billion, and deductions to reserves – by 37.9%, to 7.98 billion.

The NBU has lowered its forecast of the impact of a pandemic on the Ukrainian economy

As reported, four months 2020 Ukrainian banks received 25,208 billion UAH of net profit, which is 1.4 times more than last year. In particular, the profit of the banking system in January amounted to 6,592 billion UAH, in February – 9,285 billion in March – a total of UAH 97 million (compared to a drastic increase contributions to reserves) and for April – 9,234 billion.