NBU reported billions of dollars of Bank losses

НБУ сообщил о миллиардных убытках банков

The national Bank called Bank losses

Four months the loss of banks amounted to 11.5 billion UAH.

Loss of operating Ukrainian banks as for January-April 2016, amounted to 11.5 billion UAH, which is by 16.7% less than in the same period in 2015 (UAH 13.8 billion), the NBU reported.

According to the national Bank, on may 1, the damages received by the 34 existing Bank for a total amount of 15.1 billion UAH, including for April – 25 banks by 4.7 billion UAH, while 72% of this amount is a net loss of one Bank.

The national Bank does not bring the data on the banking system of Ukraine taking into account of insolvent banks. In this case the regulator notes that the income of banks for four months of 2016 compared to the corresponding period last year declined by 20.2% – to 56.8 billion hryvnia

The NBU explained that the company’s losses from trading of 3 billion hryvnias at the expense of losses from trading foreign currencies and Bank metals, while profit for four months of 2015 was 7.6 billion USD.

In addition, the regulator said the reduction in interest income on loans by 4.9 billion hryvnia. At the same time the interest income on securities in the current year increased by 3.1 billion USD.

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According to the report, the loss of operating banks in April in comparison with March has decreased by half to 3 billion hryvnia, while allocations to provisions for possible losses from active operations fell by 51 per cent to 5.7 (in March – UAH 10.2 billion).

Net interest income of banks amounted to 2.7 billion, net fee and Commission income – UAH 2.1 billion. The profit received 75 banks by 3.6 billion UAH, while in April – 84 Bank of 1.7 billion USD.

Earlier, the NBU has estimated Bank losses in the first quarter.

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