Over the year, population’s volume of hryvnia funds with banks increased by 18.8%, and funds of enterprises are up by almost 12%: banks are trusted — Chair of the Board of the IABU

Despite the war, Ukraine’s banking sector is resilient, stable, and profitable. Olena Korobkova, Chair of the Board of the Independent Association of the Banks of Ukraine (IABU), made this statement during a briefing at Media Center Ukraine — Ukrinform.

“The volume of the hryvnia population’s deposits with banks increased by 18.8% last year, and funds of enterprises are up by almost 12%. This data suggests that people and businesses trust banks and prefer to keep money in much safer banks than other places to store, especially in wartime. In spite of the war, the banking system ended 2022 with a profit: so it was for 46 out of 67 banks. Compared to the previous year, the banking sector’s profit decreased by 68%. In 2022, the profit amounted to UAH 24.7 billion. In 2021, it was UAH 77.4 billion. However, the banking sector is profitable and resilient. The capital adequacy ratio also speaks to its resilience. It was measured at almost 20 % on average, with a norm of 10% as the minimum value in the banking system. The banking system liquidity is UAH 511 billion,” Korobkova said.

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