Business

22 November 2022, 04:25 PM

Ukrainian banks made $298 million in profit in 2022, reports NBU

Ukrainian banks earned UAH 11 billion ($298 million) in net profit in January-October 2022, the National Bank of Ukraine reported on Nov. 21.

Compared to the first 10 months of 2021, this is a five-fold decrease – at that time, Ukrainian banks netted UAH 58.4 billion ($1.58 billion) in profit.

Meanwhile, bank revenues increased by 32% compared to the previous year and amounted to UAH 286.9 billion ($7.767 billion), while expenses grew 73% to UAH 275.9 billion ($7.47 billion). In particular, deductions to reserves increased 14.1 times to UAH 107.0 billion ($2.9 billion).

Earlier, it was reported that the revenues of Ukrainian banks have fallen seven times since the beginning of the year.

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