State-owned Banks Report Profit of UAH 24.5 Billion in Q3 2020

The Ministry of Finance of Ukraine continues to disclose information on the activities of public sector banks.

In the third quarter of 2020, public sector banks earned a profit of UAH 24.5 billion, which is 19% (UAH 5.8 billion) less than in the same period last year. At the same time, JSC CB "PrivatBank" earned a profit of UAH 21.3 billion (56.6% of the entire banking system profit), JSC "Ukreximbank" had a loss of UAH 2.2 billion.

Compared to the beginning of the current year, the volume of loans and debts of the customers has decreased by 1.2% (UAH 2.7 billion). In the third quarter of 2020, the decline in demand for loans slowed down and the reduction was 0.6%, or UAH 1.2 billion.

At the same time, there was an increase in customer funds. Compared to the beginning of the current year, the volume of these funds increased by 15.3% (UAH 93.1 billion), in particular, funds of legal entities increased by 15.2% (by UAH 38.1 billion), funds of individuals - by 15.4% or by UAH 52.2 billion. The increase in deposits was mainly due to an increase in demand deposits.