Ukraine’s banking sector saw its profit grow by 23.8% YoY in the first quarter of 2020, to UAH 16 billion, the press service of the National Bank of Ukraine (NBU) reported. At the same time, in March alone, the banking sector received only UAH 97 million in profit due to a sharp increase in allocations…
The outflow of term hryvnia deposits and foreign currency funds of the population stopped at the end of April, the press service of the National Bank of Ukraine (NBU) reported on Facebook. “The banking sector is normal. The outflow of time hryvnia deposits and foreign currency funds at the end of April stopped. On the…
Bill No. 3329-2 that foresees a reduction in Ukrainian banks’ minimum charter capital from UAH 500 million ($18.5 million) to UAH 200 million ($7.4 million) has passed its first reading. The bill amends the Tax Code of Ukraine and other laws to additionally support taxpayers during the quarantine period set to combat the spread of…
Operating banks in Ukraine in January-March posted UAH 15.974 billion, or $592 million, in profit, up by 23.8% YoY. The banks’ revenue for this period increased by 12.6%, to UAH 65.343 billion ($2.4 billion), and expenses grew by 9.4%, to UAH 49.369 billion ($1.8 billion), the National Bank of Ukraine said on its website. Data…
TBC Bank has received a license from the Central Bank of Uzbekistan to launch operations in the country starting from June. The strategy of the bank is to develop a modern banking ecosystem for retail business as well as micro, small and medium size businesses. At the first stage, TBC will offer opening and saving…
Many major banks in Estonia have not changed interest rates on home loans amid the coronavirus pandemic to date, though they are paying more attention to those customers who are seeking homeloans at a time when many planned purchases have been put on hold. One bank, Luminor, says it has cut its interest rates. “A…
The economic pressures resulting from the spread of the coronavirus and the lower oil price are credit negative for banks in Ukraine and neighboring markets, and could result in negative rating actions, Fitch Ratings says. Fitch has revised banking sector outlooks to negative for seven of the eight markets it covers in the region –…