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Ukrainian banks incur $1.5 bln in losses since early 2015 — regulator

August 20, 2015, 21:13 UTC+3 KIEV
1 pages in this article
©  Stepan Petrenko/TASS

KIEV, August 20. /TASS/. Ukrainian banks incurred 33 billion hryvnias ($1.5 billion) in losses from January 1 to August 1, 2015, the National Bank of Ukraine reported on Thursday.

"As of August 1, 2015, the financial result of operating banks was negative and amounted to 33.1 billion hryvnias. This is evidenced by the data of Ukrainian banks’ revenues and expenditures in January-July 2015," the National Bank of Ukraine said.

The Ukrainian banking system’s negative financial result has primarily resulted from "considerable volumes of their deductions to provisions for possible losses from active operations, in particular, on loans to borrowers whose creditworthiness has deteriorated," the regulator said.

Specifically, operating banks’ deductions to loan impairment provisions amounted to 69.1 billion hryvnias ($3.1 billion) in the first seven months of 2015, the National Bank of Ukraine said.

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