National Bank of Ukraine increases assets to IFRS 22% in 2023

MOSCOW. April 27 (Interfax) - The board of the National Bank of Ukraine has approved the consolidated financial statements of the NBU for 2023, according to which the balance sheet totaled nearly UAH 2.393 trillion for the year versus nearly UAH 1.959 trillion in 2022, growth of 22%, Ukrainian media reported, citing the regulator's financial statement.

The largest share in the assets forming international reserves were non-resident securities at UAH 1.073 trillion, funds and deposits in foreign currency at UAH 373.4 billion, and Ukrainian securities at UAH 728 billion.

The main changes in NBU assets in 2023 were owing to an increase in international reserves from $28.5 billion to $40.5 billion and a 7-fold decrease in the loan portfolio, mainly owing to banks repaying long-term debt on performing loans.

Liabilities totaled UAH 1.972 trillion at the end of last year, including banknotes and coins in circulation at UAH 765 billion, NBU certificates of deposit at UAH 621.7 billion, bank funds at UAH 216 billion, and funds of state and other institutions at UAH 140.1 billion.

NBU's equity capital increased 28% to UAH 420.1 billion.

The financial results for 2023 to International Financial Reporting Standards were UAH 130.6 billion, including interest income at UAH 27.6 billion, and positive revaluation of financial instruments owing to changes in the exchange rate at UAH 97.8 billion. "Part of the revaluation of UAH 37.7 billion is the unrealized result of changes in the official exchange rate and, in accordance with the requirements of the law on the NBU, is accumulated as a revaluation reserve in the capital of the National Bank," the document said.

According to the regulator, of the profit for distribution, which is UAH 76.6 billion, it has allocated UAH 37.97 billion to increasing total reserves, which should be 10% of the average annual volume of the monetary obligations of the NBU at UAH 38.64 billion transferred to the state budget of Ukraine.

The official exchange rate as on April 27, 2024, is UAH 39.67/$1.