Banks have already received 44 billion hryvnias in net profit since the beginning of the year
Solvent banks in January-April 2023 received 44 billion hryvnias in net profit compared to 7.43 billion hryvnias in loss for the same period in 2022. This was reported by Interfax-Ukraine with reference to NBU data.
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According to the NBU, in April the net profit of banks amounted to UAH 9.94 billion compared to UAH 12.58 billion in March.
At the same time, banks increased net interest income in four months by 41.5% year-on-year to UAH 61.41 billion, and net commission income by 28.9% to UAH 16.96 billion.
At the same time, in April compared to March, net interest income decreased by 3.6% to UAH 15.2 billion, and net commission income decreased by 19.3% to UAH 3.96 billion.
The increase in the profitability of banks also contributes to the positive result of transactions on the purchase and sale of currency, which during this period reached UAH 11.19 billion, while in the same period last year it was negative — UAH 0.37 billion. Although in April this item of income decreased to UAH 1.05 billion. with UAH 5.49 billion. in March
In addition, in April, banks liquidated UAH 0.45 billion. reserves for the first time since the beginning of a full-scale war. In total, for the first four months of this year, allocations to reserves amounted to only UAH 3.36 billion, compared to UAH 32.73 billion for the last four months of the year.
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The National Bank states that the sector’s return on equity as of May 1, 2023 was 55.7% compared to -9.5% a year earlier.
The calculated profit tax for January-April 2023 — UAH 8.52 billion — exceeded the corresponding annual indicator of the historically most profitable year of 2021.
In the structure of assets and liabilities, according to the results of April, bank investments in securities and long-term assets after the introduction of three-month deposit certificates at 25% per annum increased by 7.9%, or by UAH 78.5 billion — to UAH 1 trillion and 71.6 billion for the first time , at least since 2016, have exceeded the credits provided to clients.
Loans to clients decreased in April by 1%, or by UAH 9.6 billion — to UAH 992.19 billion, including to economic entities — by 1.1%, or by UAH 8.52 billion, to UAH 764.19 billion , for natural persons – by 0.2%, or by UAH 0.42 billion, to UAH 205.92 billion.
At the same time, the funds of economic entities in banks increased immediately by 4.1%, or by UAH 40.61 billion — to UAH 1 trillion, 19.52 billion, while that of individuals — by 0.3%, or by UAH 2.95 billion — up to UAH 947.52 billion.
In total, since the beginning of 2023, corporate clients have increased their deposits in banks by 14.6% or UAH 130 billion, and individuals – by 1.5% or UAH 14.28 billion.
According to the results of the work, solvent banks in the first quarter of 2023 received UAH 34 billion in net profit compared to UAH 152 million in loss for the same period last year.
Source: Ministry of Finance