Page 50 - Ukraine OUTLOOK 2024

population. Therefore the reduction of deposit rates due to the reduction of the discount rate occurred slowly,” the NBU said.
Banks' operational efficiency remains high and provisioning costs minimal, so the sector continued to grow profits. Only seven, mostly small, banks from a total of 66 were unprofitable for the quarter (15 in the previous quarter), the NBU reports.
Ukrainian Banks earned UAH110bn ($3bn) in profit in the first nine months of 2023. Solvent banks recorded UAH109.9bn in net profit for the nine months of the year, compared with UAH7.4bn for the same period last year, the NBU reported.
50 UKRAINE OUTLOOK 2024 www.intellinews.com