National Bank transfers another UAH 5 bln in profit to budget

The NBU has transferred a total of UAH 40 billion ($1.5 billion) since the beginning of the year. The central bank is to deliver the rest UAH 4.4 billion ($165.2 million) to the state budget before the end of 2017, the report said.

According to the regulator, the schedule of transferring profits to the state budget has been agreed with Ukraine's Finance Ministry and provides monthly tranches until year-end. Such tranches are designed to smooth out fluctuations in the liquidity of the banking system and contribute to the achievement by the NBU of the inflation targets.

Read alsoIMF technical mission to arrive in Kyiv to discuss budgetAs UNIAN reported earlier, the NBU Council approved the distribution of the regulator's profit for 2016 in the amount of UAH 59.451 billion ($2.2 billion): UAH 15.071 billion ($565.7 million) was allocated for formation of the general reserves of the NBU's own capital, while UAH 44.379 billion ($1.7 billion) was transferred to Ukraine's state budget for 2017.

In 2016, the National Bank transferred UAH 38.16 billion ($1.4 billion) in profit for 2015 to the state budget.