Page 47 - UKRRptDec19

cumulative profit of the sector YTD was UAH51,992mn in October, which is three times more than in September 2018 ad five time more than in 2017.
On a month-on-month basis the gains in profit as the autumn set in look less spectacular. The m/m profit for the sector in October was UAH3,641mn, which was slightly behind the UAH3,890mn that banks earned in October a year earlier (but still well ahead of the UAH748mn they earned in October the year before that).
Looking over the year and the strong profits that banks earned in the first half of the year has lifted the cumulative profits well over those of last year, but the bank recovery set in the last quarter of 2018 and this year the banks are not earning that much more than last year.
The bank sector has returned to health but further growth from here is clearly dependant on dealing with the legacy non-performing loans (NLPs), reducing the cost of funding and faster economic growth.
47​ UKRAINE Country Report​ December 201 ​ ​www.intellinews.com