• Українською
  • Ministry of Finance: Public sector banks earned UAH 16.2 billion in profit in the first half of 2020
    Ministry of Finance of Ukraine, posted 11 August 2020 17:51

    The Ministry of Finance of Ukraine continues to publish information on the performance of public sector banks.

    In the first half of 2020, public sector banks earned a profit worth UAH 16.2 billion, which is by 17% (UAH 3.4 billion) less than in the same period last year.

    The decline in profits was primarily due to higher expenditures for forming reserves by banks.

    From the beginning of the year, the loan portfolio of public sector banks decreased by 0.7% (UAH 1.5 billion).

    In the second quarter of 2020, against the background of the COVID-19 pandemic, banks observed a decline in demand for loans. In general, the demand for loans fell by 5.7% (UAH 13.1 billion) as compared to the same period last year.

    Instead, there is an increase in customer funds for servicing by the public sector banking system. In the first half of 2020, their volume increased by 10%, or by UAH 58.6 billion (in the second quarter - by 3.6%, or by UAH 23.3 billion). In particular, the volume of funds of legal entities increased by 6%, or by UAH 15.5 billion (in the second quarter - by 5.7%, or by UAH 14.3 billion), the funds of individuals - by 12%, or by UAH 41,1 billion (in the second quarter - by 3%, or UAH 11.1 billion).

    More details at Ministry of Finance website.