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8.1.1 Earnings
Net profit at Ukraine's banking system jumped by 1.4 times to UAH25.2bn in January-April.
Ukraine’s banks had a good start to the year after the sector as a whole started growing again in 2019.
Solvent banks of Ukraine saw UAH 9.234 billion in net profit in April 2020, which is 1.8 times more than in the same period in 2019 (UAH 5.213 billion), according to data released on the website of the National Bank of Ukraine (NBU).
In the first four months of 2020, banks' net profit increased 1.4 times, to UAH 25.208 billion compared to the corresponding figure a year earlier (UAH 18.115 billion).
If 2019 was the first year of clear growth for the sector since the Euromaidan protests in 2014 then this year was going to be even better as banks outperformed themselves year on year. But the coronacrisis has nipped that in the bud.
The return on assets went into the black at the start of last year, and the return on equity was running at 4.9% in March.
45 UKRAINE Country Report June 2020 www.intellinews.com
