Thirty five Ukrainian banks, or 20% of the total number operating as of the beginning of 2011, posted net losses, according to a posting on the Web site of the National Bank of Ukraine (NBU).
According to the posting, the consolidated net losses posted by the 175 banks operating in 2010 amounted to Hr 13.027 billion, while the same indicator for the 180 banks operating in 2009 stood at Hr 38.4 billion (64 banks, or 35% of the total number, were in the red in 2009).
As reported, 41 banks out of the 176 operating worked unprofitably January through September 2010, which translated into the formation of consolidated negative financial result in the banking sector that was estimated at Hr 9.999 billion over the nine months.
The consolidated net losses of the 17 Tier 1 banks in 2010 ran to Hr 5.094 billion, or 39.1% of the total losses in the banking system, according to the posting.
The highest net profit in 2010 was posted by PrivatBank, which earned Hr 1.37 billion in net profit. It was followed by OPT Bank, the profit of which stood at Hr 609 million, and state-run Oschadbank, which earned Hr 461 million in net profit.
The highest losses among the Tier 1 banks were posted by Bank Forum (Hr 3.282 billion, UkrSibbank (Hr 3.145 billion) and Prominvestbank (Hr 845 million).
In general, every third Tier 1 bank was in the red in 2010.
Financial results of Tier 1 banks in 2010 (Hr):
|Ranking in terms of assets
||Net profit (+)/loss (-)
||Raiffeisen Bank Aval
||Finance and Credit Bank
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