Ukrainian banking sector profitability exceeded pre-crisis level of 2019

This is said in the Banking Sector Review published on the website of the National Bank of Ukraine, Ukrinform reports.

“The banking sector in Q3 posted profits of UAH 21.3 billion, 1.5 times the level of Q3 2020. In the first nine months of 2021, the sector made UAH 51.4 billion in profits, up from the same period of the pre-crisis 2019,” the report says.

According to the NBU, among the profitability drivers were the ongoing growth in operating performance and the significant cuts to provisioning.

“The current high profitability and available capital buffer will allow banks to easily meet the updated regulatory capital requirements,” the report says.

As Ukrinform reported, in the third quarter of 2020, the net financial result of banks amounted to UAH 13.8 billion, which is 1.8 times more compared to the second quarter of 2020 and 20% less compared to the third quarter of 2019.

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