In Ukraine, banks lost more than a quarter of profits

Banks have tripled reserve allocations for possible losses due to the economic crisis.

From January to November 2020, the profit of Ukrainian banks amounted to 43,365 million UAH, 26.5% less than in 2019 (59,001 billion UAH). This was reported by the NBU on Thursday, December 24.

According to the data of the National Bank, bank income from January to November 2020 amounted to 229,497 million UAH, while expenses amounted to 186,132 billion UAH.

Since the beginning of 2020, banks have formed 25,084 million UAH of reserves for possible losses, while last year, 8,592 million UAH.

Recall that the NBU recommends banks to restructure borrowers’ loans. To carry out the restructuring, borrowers-legal entities must prove the facts of a decrease in income or a work stoppage.

It was also reported that the National Bank issued loans to banks for 11 billion. The financial regulator carried out another tender for the liquidity of the banks, issuing refinancing to 20 of them.

News of Correspondent.net on Telegram. Subscribe to our channel https://t.me/korrespondentnet