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8.0 Financial & capital markets 8.1 Bank sector overview
S&P Global Ratings, an international rating agency predicts the preservation of the stability of Ukrainian banks and expects their indicators to recover after coronavirus (COVID-19) pandemic.
"Subsidiaries of foreign banks and private Ukrainian banks will remain stable amid the pandemic and will resume growth in the retail and corporate segments," S&P said in the banking forecast.
According to it, the profit indicators of banks in 2021 will correspond to the level of 2020.
8.1.1 Earnings
Ukrainian banks profit plunges in 2M21. The solvent banks of Ukraine saw their profits fall by 60% in the first two months of this year to UAH6.491bn ($234mn), which is 2.5 times less than in the same period of 2020 of UAH15.877bn, the National Bank of Ukraine (NBU) reported on March 23.
The income of banks for the two months of this year decreased by 1.3 times against the indicator for the same period last year, to UAH35.089bn. In particular, the result from revaluation and from sales and purchases was negative and amounted to UAH3.856bn, while in the same period last year it
38 UKRAINE Country Report April 2021 www.intellinews.com