The preliminary data on closing balances of certain NBU balance sheet items as of 31 December 2015, which are yet to be audited and verified by an external auditor, suggest that the NBU’s assets increased by UAH 385.311 billion y-o-y (or by 62%) in 2015, reaching UAH 1.009 trillion.

“The value of the NBU’s assets, net of unused counterpart balances under financial instruments such as swaps with foreign central banks, in the final annual balance sheet will be lower as compared with the preliminary data.  In adjusted terms, the NBU’s assets expanded by UAH 272 billion or 47%,” said Director of the NBU Financial Controlling Department Mr Oleh Strynzha.  The preliminary data suggests that last year's increase in the NBU’s assets can be attributed to the expansion of Ukraine’s international reserves, which increased to USD 13.3 billion as of the end of December 2015, up from USD 5.77 billion.  The hryvnia equivalent of the increase in the value of assets recorded in the NBU’s balance sheet amounted to UAH 200.4 billion.

According to Mr Strynzha, an increase in domestic currency-denominated securities holdings of UAH 73.3 billion was yet another contributing factor in the asset growth.

Additionally, last year banks repaid UAH 8.2 billion worth of refinancing loans to the NBU, thus bringing down the total amount of loans in the NBU’s assets from UAH 126.1 billion to UAH 117.9 billion.  

On the liabilities side of the NBU’s balance sheet, the largest increase was recorded in the NBU's SDR holdings, which was attributable to the funds disbursed by the IMF. The NBU's SDR holdings increased by an equivalent of UAH 110.5 billion to UAH 176.1 billion, up from UAH 65.6 billion.   

In 2015, the NBU’s holdings of certificates of deposit increased by UAH 70.3 billion y-o-y to UAH 89.9 billion, up from UAH 19.6 billion in the previous year. The central bank's equity increased by UAH 80.3 billion or 100%, reaching UAH 161 billion.

Pursuant to Article 5 of the revised version of the Law of Ukraine On the National Bank of Ukraine, the NBU shall compile financial statements in accordance with IFRS. 

The NBU’s preliminary financial statements are subject to audit by external auditors and approval by the NBU Board. Following the audit of financial statements and their subsequent approval by the NBU Board, the NBU is required to transfer its retained profit to the central bank’s reserves and the State Budget of Ukraine before 30 April of the year following the reporting year. An annual auditor's report will also be published on the NBU’s website.