The state of the financial sector is the best in years

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The state of the financial sector is the best in years

02.06.2021 News

The current state of the financial sector is assessed as the best in recent years, and no negative changes are expected in the next six months. The heads of financial institutions of Ukraine gave the corresponding assessment and forecast. This follows from the results of a survey on systemic risks in the financial sector of the National Bank.

Thus, the positive balance of responses (+ 22%) of the heads of the largest banks and non-bank financial institutions of Ukraine in May was the highest in the entire survey.

Also, every third top manager pointed to the improvement of the state of affairs in the financial sector over the past six months. At the same time, only 6% of respondents rated his condition below satisfactory.

In addition, among the respondents, 20% believe that the current resilience of the financial sector to significant adverse events is high or very high compared to 9% six months ago. In addition, 33% of respondents expect the sector to improve.

At the same time, the share of respondents with negative expectations decreased eight times to 6%.

Heads of financial institutions once again named the main source of risk as the general level of corruption, the activities of law enforcement agencies and the judiciary. The risk of a possible escalation of hostilities by the Russian Federation in the east of the country also increased rapidly.

The NBU believes that the improvement in estimates of mainly economic risk factors indicates a gradual exit of Ukraine’s economy from the crisis.

Among the main risks for two consecutive surveys are threats to cooperation with international financial organizations.

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