NBU reports Ukrainian banks aggregate 8M09 results

The National Bank of Ukraine published the aggregate 8M09 results of Ukrainian banks on its website: net revenues amounted to UAH 95.7 bln and expenditures to UAH 111.1 bln. The banking system’s total liabilities as of September 1 were UAH 757.3 bln (up UAH 13.5 bln mom) and assets were UAH 970.8 bln (up UAH 18.9 bln mom). Mykyta Mykhaylychenko: The accumulation of banks’ provisions continues to dominate their expenditures. Since the beginning of 2009, banks’ total assets remained unchanged at UAH 971 bln. At the same time, net assets (net of provisions) dropped 5% from UAH 927 bln to UAH 881 bln. We expect this situation to persist until the beginning of 2010.