Ukrainian banks increase profits

In August 2020, the profit of Ukrainian banks amounted to UAH 4.252 billion. The banking system remains profitable for the second month in a row after UAH 5.174 billion amount of losses incurred in June, the National Bank of Ukraine reports.

To the NBU, the profit of Ukrainian banks amounted to UAH 32.641 billion in January-August 2020, which is 26.3% less than a year earlier (UAH 44.294 billion). Banks’ revenues for January-August 2020 amounted to UAH 168.992 billion, while expenses amounted to UAH 136.351 billion.

Since the beginning of the year, banks have formed UAH 20.403 billion of reserves for possible losses, while last year – UAH 7.980 billion.

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