National Bank of Ukraine says Ukrainian banks lose UAH 196 bln in year

The National Bank of Ukraine (NBU) has revised its report on the performance of the banking system for 2016 toward the increase of losses of operating and insolvent banks by 22.2%, or by UAH 35.516 billion, to UAH 195.658 billion, which is a record figure for Ukraine`s banking system, according to the NBU`s website.

Earlier, in February this year, the NBU announced preliminary estimates, showing the total loss of the banking system for 2016, including operating and insolvent banks, also breaking a record with UAH 160.143 billion.

According to the updated data, the nationalized PrivatBank saw the largest adjustments to the financial indicators, with its annual loss increasing by 21.6%, or by UAH 29.163 billion, to UAH 164.472 billion.

Ukrsotsbank, which was acquired by ABH Holdings S.A. last year, comes next, with its annual loss increasing by 42.3%, or by UAH 4.381 billion, to UAH 14.747 billion.

The subsidiaries of Russian state-owned banks come next – Prominvestbank, VTB Bank and BM Bank, which increased losses by 37.3%, 9% and 27%, to UAH 5.803 billion, UAH 6.892 billion and UAH 2.234 billion, respectively.

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