Ukrainian banks for the first time in five years made a profit in 2018

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The banking system of Ukraine received a record profit in 2018 in the amount of UAH 21.7 billion or $797 million, the press service of the National Bank of Ukraine reports. The last time Ukrainian banks received a profit in 2013 in the amount of UAH 1.4 billion. According to the representatives of the National Bank, the profit growth was made possible by the intensification of lending, lower interest rates and a decrease in reserves. The first deputy chairman of the NBU, Ekaterina Rozhkova, expects further sector growth in 2019. She also called 2018 the largest on the historical horizon for Ukrainian banks. The volume of loans issued increased by 30% in 2018. The number and percentage of unprofitable banks also decreased in 2018. Only 13 banks out of 77 in Ukraine were unprofitable at the beginning of 2019.

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