Page 44 - UKRRptOct22

in operating income.
At the same time, the banks scaled back operating expenses, in particular those on salaries, in April–May. Revenue growth and cost savings enabled the vast majority of institutions to maintain operating profitability. The number of banks incurring operating losses decreased to 12 in June, down from 22 in March. The cost-to-income ratio (CIR)1 in Q2 declined to 37.8% from 49.9% in the same period last year.
44 UKRAINE Country Report October 2022 www.intellinews.com