NET PROFIT OF UKRAINIAN BANKS INCREASED 11 TIMES FOR THE YEAR

According to the State Statistics Service, solvent banks earned UAH 95.1 billion in net profit for January-August 2023. For the same period in 2022, this indicator amounted to UAH 8.4 billion, i.e. 11 times less. Compared to the same period in 2021, when the sector’s profit amounted to UAH 45.6 billion, the indicator increased by 109%.

The reasons of financial growth are the improvement of service, the expansion of functionality, the creation of new products, and the strengthening of integration into global finance, which became possible because the implementation of fintech solutions.