Russian banks continue to suffer losses in Ukraine

Российские банки продолжают терпеть убытки в Украине

Russian banks in Ukraine for 9 months, received more than $500 million loss

The greatest losses were VTB, Prominvestbank and Sberbank.

The loss of the “daughters” of Russian banks in Ukraine amounted in the first nine months of 528 million dollars (13.6 billion hryvnia), while the loss of Ukrainian banks amounted to 11.9 billion hryvnia, stated in the message of the national Bank.

“The cumulative loss of these eight banks for 9 months of 2016 amounted to 13.6 billion UAH, net increase in reserves of 15.2 billion hryvnia. So the losses of banks under the control of the Russian banking groups reflect the net increase in reserves”, – stated in the message.

Thus, noted in the NBU, the banking system of Ukraine excluding the Russian banks as a whole profitable, and the Russian subsidiary generating the losses.

“Ukrainian banks excluding the “Russian” banks have received a net profit of $ 1.6 billion. Given the pressure on the “Russian” banks, these results seem quite decent”, — said the NBU.

In Ukraine, there are eight “daughters” of the Russian banking groups: Ukrainian Sberbank, VTB, Alfa-Bank, NEOs (owned by Alfa group), BM Bank (“grandchild” VTB), Prominvestbank (“daughter” VEB), VS Bank (“daughter” of Sberbank) and Forward (belongs to the Russian standard).

The greatest losses were the Ukrainian VTB – 5,6 billion UAH. Followed by Prominvestbank, VEB owned, with a loss of 4.1 billion UAH.

In third place — the Ukrainian savings Bank with a target of 3 billion hryvnia. Also, the damages received by Alfa-Bank and BM Bank and ORION Bank.

Net profit received only two banks of eight: VS Bank and Forward.

At the beginning of the month, the national Bank allowed the Russian banks capitalization of the subsidiaries, and in the summer the head of the NBU said that Russian banks can sell their Ukrainian subsidiaries.