Net profit of Ukrainian banks down 38.6% in Jan – Regulator

The net profit of Ukrainian banks in January 2021 decreased by 38.6% year-on-year, amounting to UAH 4.05 billion (US$145.6 million).

That's according to the National Bank of Ukraine.

The report says the income of Ukrainian banks in January this year decreased by 17.8% compared to last year, amounting to UAH 18.6 billion ($668.6 million).

Read alsoLatest expert outlook for hryvnia rate by year-endBanks' expenses for the first month of 2021 amounted to UAH 14.5 billion ($521.2 million), which is 9.2% below the figure recorded for January 2020.

Background

Ukrainian banks received UAH 41.3 billion of net profit in 2020, which is 29% less than in 2019, when the banking sector earned UAH 58.4 billion.