Page 42 - UKRRptJan22
P. 42
8.0 Financial & capital markets 8.1 Bank sector overview
Since the war, the profits of Ukrainian banks have decreased by more than 80%.
Whereas the every monthly profit of the bank system rose from UAH490mn in 2017 to circa UAH35,000mn in 2019-2021 as the economy finally emerged from the recession caused by the 2014 revolution, it has fallen again in 2022 to an average of UAH4,828mn thanks to the war.
Still, it is a testimony to the strength of the system that this average profit is still higher than in 2017, despite the heavy losses made in the first months of the war.
And by the last quarter the sector was clearly recovering from the worst of the shock, although indicators like NPLs were also rising fast.
Nevertheless banks earned only UAH 11bn in 2022, down from UAH 58bn in 2021.
Of the 67 banks in Ukraine, a third, 21 banks, ended the period with losses of UAH 19bn. The total profit of banks with positive dynamics for ten months amounted to UAH 30bn.
42 UKRAINE Country Report January 2023 www.intellinews.com
