UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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Ukrainian banking system ended up with income the first two months 2012

In February, banks dramatically cut their allocation to reserve, however failed to show income growth.

Income generated by Ukrainian banks during the first two months in 2012 went up by 3.1%, to 23.1 billion hryvnias, from the same period last year. The February income reduced by 2.1% compared to January, which cannot be explained by fewer days in February. In fact, the number of business days was fewer in January due to New Year and holidays.

Total banking system expenses decreased by 1.5%, to UAH 21.9 billion. February expenses went down by 1.6%, from January.

Summarizing the results of January-February 2012, the banking system drew UAH 1.235 billion in income. Recall that in Jan-Feb 2011, income was just UAH 0.2 billion.

Net profit in banking system in general is reduced by 10.6% in February, compared to January 2012.

Note that February allocation to reserves spiraled down by 37% from January, however item “Other operating expenses” increased as much as three times. All income items, except for fee&commission income and trading transaction, went down in February.

As of 20 March 2012, an official UAH/USD exchange rate is 798.5/100.

Income and Expenses Structure in January-February 2012:

 

Indicators

Amount

(UAH mln)

%

1

INCOME

23 124

100.0

1.1

Interest income

18 571

80.3

1.2

F&C income

2 976

12.9

1.3

Trading transactions

514

2.2

1.4

Other operating income

781

3.4

1.5

Other income

94

0.4

1.6

Repayment of charge-offs

188

0.8

 

 

 

 

2

EXPENSES

21 889

100.0

2.1

Interest expenses

10 314

47.1

2.2

F&C expenses

461

2.1

2.3

Other operating expenses

1 693

7.7

2.4

Total administrative expenses

5 534

25.3

2.5

Allocation to reserves

3 681

16.8

2.6

Tax on income

206

1.0

3

NET PROFIT

1 235

х

 
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