NBU's assets grow by 13% in H1

Photo from UNIAN The volume of assets of the National Bank of Ukraine (NBU) in the first half of 2020 (H1) increased by 13% compared to the consolidated balance sheet data as of December 31, 2019, and amounted to UAH 1.2 trillion (US$43.5 billion). "The change in the volume of assets is the result, first of all, of the growth of international reserves by 12.6% in dollar terms in H1 2020, as well as their revaluation in hryvnia equivalent due to the change in the hryvnia exchange rate against foreign currencies during this period. This is reflected in the increase in the volume of securities of non-residents (by 16%) and funds and deposits in foreign currency and bank metals (by 57%)," the NBU said in a press release on September 2. At the same time, the central bank says, the amount of debt on refinancing loans provided to banks increased slightly over this period, despite coronavirus crisis. Read alsoForeign trade balance in Jan-July sees $440 mln deficit – NBUAs for the NBU&#39;s liabilities, balance volumes in the accounts of state-owned and other financial institutions increased in H1 (by 70.6%), while the number of certificates of deposit and bank funds decreased (by 31% and 35.5%, respectively). The amount of the NBU&#39;s consolidated profit in H1 stood at UAH 80 billion (US$2.9 billion) against a profit of UAH 6.4 billion (US$231.9 million) for the same period last year. The greatest impact on profit was made by the results of revaluation of financial instruments "The greatest impact on profit was made by the results of revaluation of financial instruments for over UAH 76 billion (US$2.8 billion) and interest income worth over UAH 15 billion (US$543.5 million). At the same time, we draw your attention to the fact that consolidated profit is not the one to be transferred to the state budget. Obligations for the transfer of profits by the National Bank for distribution to the state budget in 2021 will be formed following the results of the entire 2020 and announced in the spring of 2021," reads the report. It is reiterated on April 1, 2020, the National Bank transferred UAH 42.7 billion (US$1.5 billion) to the state budget of Ukraine – the entire amount of part of the profit for distribution determined for transfer to the state budget based on the results of 2019. NBU performance: background The consolidated financial statements of the National Bank of Ukraine provide information to explain events and transactions that are material for understanding changes in the financial condition and performance of the National Bank since the date of the last annual consolidated financial statements of the National Bank.

NBU's assets grow by 13% in H1

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