In total, 32 banks posted losses for UAH 6.5bn, while 65 banks posted profits for UAH 8.8bn, according to the National Bank of Ukraine (NBU). The currency board attributes the decrease in losses to reduction by 59% in accounts of accumulating reserves for backing of possible loss from active operations. At this, the losses were due to increasing administrative costs and fair reduction in net interest margins. The negative trend in net interest margins was due to significant reduction in crediting operations. Thus, net interest margin of domestic banks shrunk by 14% y/y to UAH 32.7bn, as of October 1.
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