Page 39 - UKRRptJuly18

8.0 Financial & capital markets 8.1 Bank sector overview
Net profit of solvent banks in Ukraine in May 2018 amounted to UAH2.088bn, whereas it was in the red in May 2017 with losses estimated at UAH2.567bn.
The banking sector's net profit in the first five months amounted to UAH12.812bn , which was 87% more than for the same period last year (UAH6.851bn), the National Bank of Ukraine (NBU) said.
Banks' revenue in January-May amounted to UAH78.275bn , while expenses stood at UAH65.463bn.
Ukraine's solvent banks in the first quarter of 2018 resumed profitable work: their combined financial result amounted to UAH8.7bn, which was 2.7 times higher than the first quarter of 2017.
Ukraine has invested $15.5bn to prop up its state-owned banks since 2008 and could keep spending without improving the quality of corporate governance in banks and their supervision, Managing Director for Eastern Europe and the Caucasus at the European Bank for Reconstruction and Development (EBRD) Francis Malige wrote on his Facebook page.
Some $5.8bn was injected in capitalization of PrivatBank, $3.5bn – Oschadbank, $2.8bn – Ukreximbank, $1.6bn – Rodovid Bank, $1.4bn – Ukrgasbank and $0.5bn – Bank Kyiv.
Non-banking financial institutions of Ukraine in January-June 2018 paid profit tax in the amount of UAH353.9mn to the national and local budgets, which is UAH148.4mn or 72.2% more than a year ago, a member of the national commission for financial service markets regulation of Ukraine Oleksandr Zaletov has told Interfax-Ukraine. He also said that the upward pace of fiscal revenues is associated with the growth of services provided by non-banking financial institutions. In the first quarter of 2018, the following
39 UKRAINE Country Report July 2018 www.intellinews.com