Ukrainian Increase Their Profits by Almost One And a Half Times

by Roman Cheplyk
Wednesday, December 22, 2021
Ukrainian Increase Their Profits by Almost One And a Half Times

From January to October 2021, the profit of Ukrainian banks increased by almost 47% compared to the same period last year

Profit of Ukrainian banks

In the first ten months of 2021, Ukrainian banks were able to earn $214 million in net profit.

In 2020, the amount was at the level of $146 million. Over the year, it grew by 46.5%.

Income of Ukrainian banks

For ten months of 2021, revenues increased by 4% on an annualized basis and amounted to $8  billion.

As for expenses, they decreased by 6% over the same period to $6 billion.

Banks' income for 11 months amounted to $8.9 billion and increased by 6% compared to the result for 11 months of 2020, while expenses amounted to $6.5 billion and decreased by 5%.

Interest income amounted to $5 billion, and expenses — $1.7 billion, fee and commission income — $3 billion, and commission expenses — $1 billion.

The profit of state-owned banks tripled in the second quarter of 2021 compared to the first quarter to $40 million. Private banks — increased 2.5 times to $70 million.

The net profit of solvent banks increased by 40% to $166 million in the eight months of 2021. In January-September, the net profit of solvent banks rose to a ten-year high.

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