In July 2015, Ukraine's banking system, excluding insolvent banks, saw an 8.4% increase in losses / Photo from Fotolia/ romantiche
Ukraine's banking system, excluding insolvent banks, posted UAH 33.135 billion, or $1.502 billion, in loss January through July 2015, according to the National Bank of Ukraine (NBU).
The NBU did not post detailed information on its website about the banking system, including insolvent banks, and comparative data about working banks as of the beginning of the year.
In July 2015, the banking system, excluding insolvent banks, saw an increase by 8.4%, or UAH 2.557 billion, in its losses if compared to earlier announced results of operating banks and their losses in the first half of 2015.
"This financial performance by the banking system is the result of considerable contributions to the reserves being formed against possible losses from active operations, in particular, from loans issued to borrowers whose ability to pay has deteriorated. In the seven months of 2015, contributions to the operating banks' reserves totaled UAH 69.1 billion," the NBU's posting said.
According to the NBU, the operating banks' revenue January through July 2015 amounted to UAH 126.089 billion, while expenditures were estimated at UAH 159.224 billion.
The official forex rate set by the NBU for August 20, 2015, is UAH 22.066173 per U.S. dollar.
As UNIAN reported earlier, Ukraine's banking system in January-June 2015 posted UAH 81.974 billion in loss, including UAH 30.578 billion posted by operating banks alone.
The loss of Ukraine's banking system in 2014 stood at UAH 52.966 billion.