In the first quarter of 2016, the losses of Ukrainian banks decreased almost twice versus the same period of the previous year – up to UAH 8 billion, Correspondent reports.

According to its data, meanwhile for the first quarter the revenues of banks decreased by 28.9% - up to UAH 42.8 bln, expenses – by 33.1%, up to UAH 50.8 bln.

“The reduction of revenues for the first quarter of this year versus the same period of previous year is connected with the fact that banks incurred losses from trade transactions (due to losses from foreign currency sales and bank metals) – UAH 3.8 billion (as of April 1, 2015 the profit made up UAH 11.3 billion) and the reduction of interest revenues by UAH 1.1 mln", - the central bank explains.

As NBU noted, the main share in losses in the first quarter 2016 was formed in March (UAH 6.1 billion), which is caused by significant allocations to reserves (UAH 10.2 bln; in February – UAH 0.1 bln, in January – UAH 1.2 bln). Meanwhile, the net commission revenue of banks for March made up UAH 2.2 bln versus UAH 1.8 bln in February, the net interest revenue – UAH 3.4 bln (in February – UAH 3.6 bln).

As per central bank’s data, as of April 1, 28 operating banks incurred losses for UAH 11.4 billion. Meanwhile, in March 44 banks incurred losses for the amount of UAH 7.3 bln, out of which 66% account for the losses of one bank. 

83 banks made profit for the reporting period of current year for the total amount of UAH 3.4 bln. Meanwhile, in March 67 banks made profit for UAH 1.2 bln. 

It should be noted that as of the beginning of March there are 111 operating banks in Ukraine.