Ukraine's solvent banks see billions in profit against losses year earlier

Photo from UNIAN

Revenues of working banks increased by 9.8%, to UAH 63.020 billion, while expenses decreased by 27.6%, to UAH 53.603 billion.

According to the data released, revenue growth was due to the outcome of trade operations and commissions, while lower costs are explained by the reduction of allocations to reserves, interest, and other operating expenses.

Read alsoUkraine's Central Bank says almost $11.5 bln in circulation outside banksAs UNIAN reported earlier, solvent banks in January-March 2017 received UAH 5,086 billion of net profit against UAH 8,011 billion loss for the same period last year.