JSC Ukreximbank generated UAH 125 million in profit in March, according to the bank’s press service.
Since the beginning of 2021, the state-owned bank has received a total of UAH 327 million in profit against a loss of UAH 2 billion recorded in January-March 2020.
“Profitable activity in the reporting period was provided by the implementation of the main targets – net interest income was fulfilled by 101% and net non-interest income – by 104%,” reads the report.
At the same time, savings on administrative costs amounted to more than 20%, according to the bank’s press service.
The bank added that the share of non-performing loans (NPL) of 53% in the total portfolio remained high, but the work of the new portfolio and overall business development already significantly reduced the pressure of NPL on financial results.
The operating result for the first quarter exceeded half a billion hryvnias, while in January-March 2020, it amounted to only UAH 81 million. (Ukrinform/Business World Magazine)