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Ukrainian banking sector reports a sustained increase in the income and net profit

As of 1 August 2013, the banking sector reported a net profit of almost UAH 2 billion.

Owing to a sustained increase in banks' income, which reached UAH 93 billion in the first seven months of 2013, the banking sector delivered a profitable performance. In July, banks' income hit a record of UAH 14 billion in the reporting year.

An increase in the income and net profit was driven by a rise in banks' interest income.

Breakdown of income and expenses of Ukrainian banks as of August 1, 2013:

Indicators

Total

(hryvnias mln)

%

1

INCOME

92,813

100.0

1.1

Interest income

72,970

78.6

1.2

Fee and commission income

13,658

14.7

1.3

Trading income

1,324

1.4

1.4

Other operating income

2,616

2.8

1.5

Other income

690

0.8

1.6

Written off assets recovery

1,555

1.7

2

EXPENSES

90,949

100.0

2.1

Interest expense

45,378

49.9

2.2

Fee and commission expense

2,213

2.4

2.3

Other operating expenses

5,403

5.9

2.4

General administrative expenses

22,325

24.6

2.5

Provision for reserves

14,576

16.0

2.6

Income tax expense

1,054

1.2

3

Net PROFIT (LOSS)

1,864

х

For reference:

As of 1 August 2013, 177 Ukrainian banks (public joint-stock companies) held the license granted by the National Bank of Ukraine to perform banking activity, 1 bank whereof was licensed as a remedial bank.

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