1Q08 Banking Statistics: Keeping Up the Pace

Yesterday the National Bank of Ukraine released key results of the Ukrainian banking sector over the 1Q. Ukrainian banks increased their net income by 53% yoy to USD 574 mln. Total banking revenues rose 71% yoy to USD 4.4 bln (vs. 56% yoy growth last year), while expenses grew by 74% yoy to USD 3.8 bln compared to 74% yoy in 1Q07. Total Ukrainian banking assets expanded by 70% yoy to USD 132 bln (vs. 65% yoy in 1Q07), while loan portfolios increased 77% yoy to USD 96 bln against 74% yoy during the same period last year. The bank’s liabilities grew by 70% yoy to USD 112 bln, from 66% yoy last year. Total shareholder equity rose by 72% to reach USD 16 bln, compared to 68% yoy in 1Q07.