24 May 2022 14:49

Ukrainian banks post net losses of 7.4 bln hryvni in January-April 2022 - NBU

KYIV. May 24 (Interfax-Ukraine) - Ukrainian banks posted net losses of 7.426 billion hryvni in January-April 2022, including 7.267 billion hryvni in net losses reported in April, whereas income in January-April 2021 stood at 17.538 billion hryvni, the press service for the National Bank of Ukraine (NBU) said on Monday evening.

Ukrainian banks' revenue grew 10.6% to 88.608 billion hryvni in the first four months of 2022 as compared to the same period of 2021, including interest revenue by 18.9% to 61.142 billion hryvni, whereas fee revenue dropped by 8.9% to 24.465 billion hryvni, NBU said.

At the same time, banks' expenses increased by 53% to 96.034 billion hryvni in March-April 2022, including interest costs by 4.9% to 17.735 billion, fee expenses by 12.8% to 11.3 billion hryvni, while expenses related to transfers to reserve funds saw a 6.8-fold growth to 32.725 billion hryvni.

As of April 1, 2022, 44 out of Ukraine's 69 solvent banks were profitable and posted net income of 5.85 billion hryvni. The other 25 banks were unprofitable with 6.01 billion hryvni in losses.