The National Bank of Ukraine (NBU) is planning to transfer UAH 38.164 billion of its profits to the state budget of Ukraine in 2016, which is UAH 164 million more than the planned figure for the current year, according to the regulator`s website.
According to the law On the National Bank of Ukraine, its financial statements have to be prepared in accordance with international standards and must be approved by the board of the regulator, but the mandate of the former Council Board ended on September 10, 2015, and the new board has not been formed by the President and the Verkhovna Rada of Ukraine.
According to the consolidated financial statements for 2015, the regulator`s profit amounted to UAH 81.4 billion, and the profit for distribution totaled UAH 54.2 billion. After the approval of the consolidated report by the Board, the NBU will send UAH 16 billion of its profit to increase its total reserves, the NBU reports.
Net income of the NBU in 2015 amounted to UAH 85.2 billion, and its main sources became interest on securities of Ukraine and interest on loans received by banks to support liquidity and stabilization loans.
At the same time, the regulator paid interest on certificates of deposit, and as a result, net interest income of the NBU after deducting reserves amounted to UAH 43.2 billion.
The NBU`s expenses, excluding interest and commissions, amounted to UAH 3.9 billion, the funds were used for the maintenance of personnel, production of banknotes and coins, administrative costs.
The NBU also said that its assets increased by UAH 272 billion, or 47%, up to UAH 849.2 billion in 2015, including international reserves, which increased by $5.8 billion, or 77%, up to $13.3 billion at the end of the year.
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