Ukrainian operating banks` loss drops by 16.6%, to $457.6 mln as of May 1

Tuesday, May 24, 2016 - 22:33 (EEST) Section: Latest news

Ukrainian operating banks, excluding insolvent ones, posted UAH 11.5 billion, or $457.6 million, in aggregate loss as of May 1, 2016, which was lower by 16.6% year-over-year, according to the National Bank of Ukraine (NBU).
Thirty-four operating banks were in the red with losses estimated at UAH 15.1 billion as of May 1, 2016. Of them, 25 banks posted UAH 4.7 billion in loss in April alone with just one bank accounting for 72% of the total loss.
At the same time, 75 operating banks were in the black with profit amounting to UAH 3.6 billion in January-April 2016. In April alone, there were 84 profitable banks with total profit worth UAH 1.7 billion.
Operating banks` revenue in January-April 2016 decreased by 20.2% year-over-year, to UAH 56.8 billion, spending fell by 19.6%, to UAH 68.4 billion.
As UNIAN reported earlier, Ukraine`s banking system, excluding the insolvent financial institutions, posted UAH 8.011 billion in loss as of April 1, 2016, which is almost half the figure on the same reporting date last year.
The loss of Ukrainian banks (excluding insolvent ones) amounted to UAH 66.6 billion in 2015. Seventy-one banks posted profit worth UAH 5.2 billion last year.
According to the NBU, from December 1, 2015, Ukrainian banks transferred to international accounting standards necessitating the conduction of interest income adjustment, which became a major factor in the formation of the banking system`s loss in late 2015.