The net profit of the banking system in July was 1.501 billion hryvnia, FinClub reports.
For January-July 2018, the total profit increased to 9.769 billion hryvnia. A year earlier, the banks' loss for the first seven months of 2017 was 223 million hryvnia.
In January-July of this year, the banks' revenues amounted to 108.913 billion hryvnia, the increase from 101.624 billion hryvnia in January-July 2017.
The expenses decreased from UAH 101.846 billion to UAH 99.14 billion.
The increase in the profitability of banks is caused by a reduction in spending on reserves, both in the structure of bank expenditures from 21% to 11.7%, and in absolute terms - from UAH 21.369 billion to UAH 11.637 billion.
The growth in income was due to an increase in both interest income (from UAH 71.36 billion to UAH 78.045 billion) and commission income (from UAH 21.269 billion to UAH 28.303 billion).
