UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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Ukrainian banks reported losses following the results of September

According to September results, income of the Ukrainian banking system decreased by 3.39% compared to August, and expenses increased by 2.68%. As a result, the system has shown UAH 118 mln. losses against UAH 652 mln. profit in August.

For nine months of 2012, the banking system has received the profit of UAH 2.775 bn. (in the similar period of 2011, the loss was UAH 5.641 bn.)

For the first 9 months of 2012, expenses of the Ukrainian banks decreased by 0.96% against the similar period of 2011 and reached UAH 108.047 bn.

Within 9 months the expenses were mainly decreasing due to reduced write-off to reserves – UAH 18.94 bn. against UAH 29.942 bn. in the similar period of 2011, which is 36.74% lower.

Reduced write-off to reserves was overlapped by other expenses growth. For example, “interest costs” increased from UAH 42.806 bn. to UAH 49.534 bn., or by 15.55%. Also, “general administrative costs” have significantly went up – from UAH 24.169 bn. to UAH 26.654 bn., or by 10.28%. In addition, “other operating expenses” increased from UAH 9.879 bn. to UAH 10.504 bn. or by 6.33%.

Following January-September results, compared to the similar period in 011, income of the Ukrainian banks went up by 7.12% and reached UAH 110.822 bn.

The income growth was mainly due to increase of the commission income to UAH 15.496 bn. (+15.81% against the similar period). Interest income, being the most significant profit item, went up by UAH 87.227 bn., or by 5.1%, for the first nine months of 2012 compared to the similar period of 2011.

Income and expenses of the commercial banking system of Ukraine, UAH mln.

Income and expenses

Total for 9 months of 2012

June 2012

July 2012

August 2012

September 2012

Deviations for a month, September/August

Total for 9 months of 2011

Deviation for a year , period against period, %

Income

110,822

11,910

13,469

13,008

12,567

-3.39%

103,452

7.12%

interest return

87,227

9,794

10,363

10,174

9,791

-3.76%

82,993

5.10%

commission income

15,496

1,710

1,938

1,881

1,832

-2.61%

13,381

15.81%

merchandise transaction results

2,516

29

362

327

431

31.8%

3 199

-21.35%

other operating income

3,922

268

518

378

319

-15.61%

3,081

27.30%

other income

640

46

82

64

56

-12.5%

339

88.79%

charge-off return

1,021

63

206

184

138

-25%

459

122.44%

Expenses

108,047

12,245

12,786

12,355

12,686

2.68%

109,093

-0.96%

interest costs

49,534

5,404

5,938

6,022

5,992

-0.5%

42,867

15.55%

commission expenses

2,265

244

251

275

233

-15.27%

2,173

4.23%

other operating expenses

10,504

1,388

937

673

863

28.23%

9,879

6.33%

general administrative expenses

26,654

2,977

2,942

2,922

3,161

8.18%

24,169

10.28%

transfers to reserves

18,940

2,162

2,617

2,352

2,408

2.38%

29,942

-36.74%

income tax

150

70

101

111

29

-73.87%

63

138.09%

Net profit (loss)

2,775

-335

683

652

-118

-118.1%

-5 641

-149.19%

Source: National Bank of Ukraine. The official NBU’s rate was UAH 799.30/USD 100 as of October 1, 2012.


 
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