Loss of Ukrainian banks reached UAH 890 mln in Jan – NBU

Loss of Ukrainian banks reached UAH 890 mln in Jan – NBUThe loss of Ukrainian banks (not taking into account insolvent banks) reached UAH 890 million in January 2016, the National Bank of Ukraine (NBU) has reported.

Earlier, on March 3, the bank revised information on the loss of banks in January 2016 from UAH 890 million to UAH 1.15 billion.

Banks' revenue in January was UAH 12.18 billion and expenses - UAH 13.07 billion.

The number of operating banks as of February 1, 2016 was 116.

The NBU did not disclose the figure, taking into account insolvent banks, while in January 2015 the loss of the whole banking system was UAH 8.504 billion.

As it is said in the report, in January 90 banks saw profit of UAH 1.6 billion.

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The central bank said that first loss from trade transactions affected banks' revenue, being UAH 1.8 billion in January 2016 (UAH 200 million in January 2015), which is linked to the loss from trade with foreign currency and banking metals.

The NBU said that interest rates income grew by 92.5%, to UAH 12.18 billion.

A fall in expenses is linked to the reduction of payments to the reserves to cover possible losses from active transactions, which volumes fell by almost 66.7% year-over-year, to UAH 1.3 billion (UAH 3.6 billion in January 2015).

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As reported, loss of Ukrainian banks (excluding insolvent banks) reached UAH 66.6 billion in 2015, while in 2014 the indicator was UAH 33.1 billion.

From December 1, 2015, banks switched to international financial reporting standards and revised interest rate income, which was the main factor of loss formation in the banking system in December (UAH 9.3 billion).
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