Ukraine's banking sector sees UAH 120 m in profit in June, NBU

16:45, 25.07.2013 1 min read

Ukraine's banking system in June posted a profit of UAH 120 million, according to a posting on the web site of the National Bank of Ukraine (NBU).

"In H1, 2013 the revenues of Ukraine's banks grew by 9.4% year-over-year and totaled UAH 78.491 billion. Expenditures… increased by 10.1% and were UAH 77.31 billion. The profit of the banking system as of July 1, 2013 was UAH 1.181 billion," reads the report.

As a source in the government's circles told Interfax-Ukraine, the volatility of the profit in H1 is completely connected with formation of reserves by just one bank and does not indicate a general tendency in the banking industry.

As reported, the profit of the Ukrainian banks in January was UAH 580 million; in February – UAH 208 million; UAH 2.338 billion in March; UAH 961 million in April; and UAH 120 million in June. A loss was seen only in May – UAH 3.026 billion.

The profit of the banking system in H1, 2012 was UAH 1.558 billion, while in June of that year the loss was UAH 335 million.