Ukrgasbank earned $80 mln net profit in Jan-Sept 2023 versus loss last year

MOSCOW. Oct 20 (Interfax) - Ukrainian state-owned Ukrgasbank earned a net profit of 2.92 billion hryvnia ($79.8 million at the current exchange rate) in January-September 2023 against a 3.36 billion hryvnia net loss in January-September 2022, Ukrainian media reported citing the bank's statement.

Operating profit before tax and deductions to provisions totaled UAH 3.25 billion. In September, the bank posted UAH 530 million in operating profit, while net operating profit totaled UAH 299.6 million.

Ukrgasbank is one of the five banks in the country showing the largest increase in customer funds: the growth of the portfolio of retail customers and legal entities in the national currency in January-September reached UAH 2.8 billion and UAH 18.4 billion, respectively.

According to the National Bank of Ukraine, as of September 1, Ukrgasbank ranked 4th in terms of assets among 64 banks operating in the country.

The official rate as of October 20 is 36.61 UAH/$1.