The National Bank suffered billions in losses

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The National Bank suffered billions in losses

31.08.2021 News

In the first half of the year, the National Bank suffered UAH 12 billion in losses, according to the central bank’s press service.

In this regard, next year, according to the forecast, the NBU will transfer to the budget UAH 13.6 billion, which is 1.8 times less than this year (UAH 24.4 billion).

It is reported that the result of the NBU for the first half of the year, excluding the results of the revaluation of financial instruments is almost UAH 20 billion in net income, which is 2.4 times more than last year. The main component of this result is net interest income of over UAH 21 billion.

It is noted that the strengthening of the hryvnia and rising yields on long-term securities on world markets have led to the accumulation since the beginning of the year the amount of unrealized losses from revaluation in the amount of 32 billion UAH. Thus, the total consolidated result of the NBU amounted to UAH 12 billion in losses.

It is also reported that in the first half of the year the NBU’s assets decreased by 3% and amounted to UAH 1,294.4 billion. This reduction is mainly due to the repayment of liabilities on loans received from the IMF, as well as the revaluation of international reserves in connection with the strengthening of the hryvnia.

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