Ukrainian solvent banks' net profit in Jan grows 5-fold y-o-y

Ukrainian solvent banks' net profit grew 5-fold in January 2018, to UAH 1.69 billion (US$63 million) year-over-year (y-o-y).

The banks' revenue in the first month of 2018 totaled UAH 14.599 billion ($544.5 million), while expenses stood at UAH 12.908 billion ($481.5 million), according to the National Bank of Ukraine (NBU).

Read alsoEBRD supports Ukraine's strategy for state-owned banksInterest income accounted for 77.4%, the largest share in the structure of banks' revenue, while that of interest expense in the structure of expenditures was 44.1%.

As reported UNIAN earlier, the banking system of Ukraine posted UAH 24.4 billion (US$910 million) in loss in 2017 due to the significant amount of allocations for the country's reserves.