Operating banks in Ukraine (excluding insolvent) in May for the first time in the last 13 months posted profit for a total of UAH 2.1 billion, according to the website of the National Bank of Ukraine (NBU).

"The main factor in formation of a positive financial result for the reporting month was a significant reduction in the volume of transfers to reserves (UAH 1.3 billion in May compared to UAH 5.7 billion in April), while interest income on loans granted to individuals more than doubled," the report says.

According to the report, in May 32 banks saw losses for a total of UAH 1.3 billion, 74 banks posted revenues for a total of UAH 3.4 billion.

At the same time, the cumulative loss of operating banks in the five months of 2016 decreased by 2.6 times compared with the same period in 2015, to UAH 9.2 billion.

Revenues of Ukrainian banks in January-May 2016 compared with the corresponding period in 2015 decreased by 14%, to UAH 72.3 billion, expenses by 24.7%, to UAH 81.5 billion.