Ukrainian banks see profit shrink more than 90% in 7M - NBU

MOSCOW. Aug 23 (Interfax) - Ukrainian banks saw their profit shrink 90.7% to UAH 3.4 billion in January-July 2022, Ukrainian media quote the National Bank of Ukraine's press office as saying.

Banks boosted income 26% year-on-year to UAH 189.082 billion, including UAH 112.374 billion in commission fees, up 20.5%.

Gains from revaluation and purchase-sale operations were UAH 27.214 billion, compared with losses of UAH 409 billion a year previously.

The sector's expenses grew 68% year-on-year to UAH 185.675 billion, with provision charges up 12.3-fold to UAH 73.56 billion, and commission expenses inching up 1.87% to UAH 18.8 billion.

Ukrainian banks doubled their net profit to UAH 77.5 billion in 2021, from UAH 41.3 billion in 2020.