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Solvent banks in Ukraine posted UAH 3.744 billion, or $140 million, in net profit January-February 2017, compared to UAH 1.971 billion, or $73.5 million, in losses posted in the same period of 2016, according to the National Bank of Ukraine.
These banks' revenues over the period under review expanded by 18.9%, to UAH 29.502 billion, or $1.1 billion, due to an increase in revenue from bank charges, the NBU said.
Read alsoUkraine's central bank to transfer nearly US$1.66 bln to budget in 2017At the same time, the banks managed to reduce their spending by 3.8%, to UAH 25.769 billion, or $961 million, due to interest and other transaction-related expenses.
As UNIAN reported earlier, the NBU preliminarily estimates that Ukraine's banking system hit a new record high in 2016, having posted UAH 159 billion, or $5.931 billion, in losses. The total losses in the banking sector, including those of insolvent banks, were UAH 160.143 billion, or $5.973 billion.
The previous record in the banking sector was seen in 2015 when operating banks' losses amounted to UAH 66.6 billion, or $2.48 billion at the current forex rate.