Ukrainian banks post profit of UAH 11B in first ten months of 2022 - NBU

The net profit of solvent banks in Ukraine amounted to UAH 11 billion in January-October this year.

The press service of the National Bank of Ukraine (NBU) said this in a post on Telegram, Ukrinform reports.

"Solvent banks received UAH 11 billion in net profit for January-October 2022 compared to UAH 58.4 billion in net profit for January-October 2021," the report said.

The banks' income increased by 32% over the period and amounted to UAH 286.9 billion, whereas expenses grew by 73%, to UAH 275.9 billion. Deductions to reserves increased by 14.1 times, to UAH 107 billion.

In 2021, solvent banks in Ukraine received an all-time high of UAH 77.5 billion in net profit, almost twice as much as in 2020 (UAH 39.7 billion) and 33% more than in pre-crisis 2019 (UAH 58.4 billion).