Page 42 - UKRRptJul21

8.0 Financial & capital markets 8.1 Bank sector overview
Ukraine’s banks are exactly tracking the earnings record of 2019, the first year of strong growth following the Revolution of Dignity in 2014.
The bank sector earned UAHUAH6.3bn ($230mn) of profit in May, according to the NBU, slightly down from the UAH6.6bn they earned a month earlier but ahead of the first quarter earnings.
The prospects for banks to outperform the 2019 results is mixed. Although the economy is expected to grow by some 4% this year, the results of the second quarter already highlight problems and a slowdown in the pace of recovery that will take the edge off growth that probably means banks will continue to track the 2019 sector results for the time being.
8.1.1 Earnings
Ukraine’s banks are exactly tracking the earnings record of 2019, the first year of strong growth following the Revolution of Dignity in 2014.
The bank sector earned UAHUAH6.3bn ($230mn) of profit in May, according to the NBU, slightly down from the UAH6.6bn they earned a month earlier but
42 UKRAINE Country Report July 2021 www.intellinews.com