Ukrainian banks record revenue of UAH 84.2 bln in 7M09

The National Bank of Ukraine said yesterday on its website that in aggregate, Ukrainian banks net revenue in 7M09 came to UAH 84.2 bln, and expenditures to UAH 97.2 bln. The banking system’s total liabilities as of August 1 were UAH 743.8 bln (down UAH 8.0 bln mom) and assets were UAH 951.9 bln (up UAH 7.3 bln mom). Mykyta Mykhaylychenko: Ukrainian banks have continued to build up large loan provisions: 37% of bank expenditures in July were attributed to further accumulation of provisions against poor quality assets. We believe Ukrainian banks will keep accumulating provisions for some time going forward.