The NBU’s Statement of Financial Position as at 31 March 2017 suggests that in Q1 2017 the NBU assets contracted by UAH 12.5 billion to UAH 928 billion year-to-date.
Director of the NBU Financial Controlling Department Mr Oleh Strynzha said that a reduction in the central bank’s assets was mainly driven by a decline in the international reserves due to payments related to the repayment and servicing of the public and publicly guaranteed debt denominated in foreign exchange.
“The reduction in the central bank’s assets was driven mainly by a 2 percent decline in the NBU’s foreign assets to USD 18.1 billion. Meanwhile, the NBU’s domestic assets increased by UAH 2.13 billion to UAH 441.4 billion, driven by an increase in the central bank’s securities holdings to UAH 397.06 billion and a reduction in the NBU’s loan portfolio to UAH 35.1 billion. In Q1 2017, the central bank reported a UAH 5 billion write-back in loan loss provisions.
Over this period, the central bank’s liabilities contracted by UAH 30.2 billion to UAH 762.75 billion, reflecting a 4 percent reduction in holdings of certificates of deposit issued by the NBU to UAH 65.5 billion and a 9 percent in banknotes and coins in circulation to UAH 311.50 billion.
The NBU’s equity capital expanded by 12%, amounting to UAH 165.30 billion.
In addition, a portion of distributable income in the amount of UAH 44.38 billion that shall be transferred to the State Budget of Ukraine in 2017 was reflected as liabilities.