2024-08-28T16:17:00+03:00 Finance 2024-09-21T04:00:02+03:00

Ukrainian news

NBU's equity capital increases by 29% to UAH 543 billion in H1, 2024

NBU's equity capital increases by 29% to UAH 543 billion in H1, 2024

The equity capital of the National Bank increased by 29% to UAH 543 billion in the first half of 2024.

This is stated in the message of the NBU, the Ukrainian News agency reports.

According to the results of the first half of the year, the volume of assets of the National Bank remained almost unchanged (decreased by 1%), when compared with consolidated data as of December 31, 2023, and amounted to UAH 2,378 billion.

This was influenced by:

- a 6.5% decrease in international reserves to USD 37.9 billion at the end of the first half of 2024 (from USD 40.5 billion at the end of 2023), including:

- an 11% increase in the volume of securities of non-residents in the portfolio of the National Bank during the first half of 2024 - up to UAH 1,195.5 billion;

- a 27.8% decrease in the amount of funds and deposits in foreign currency and bank metals - to UAH 269.3 billion by the end of the first half of 2024;

- an 18% decrease of the volume of the loan portfolio due to repayment by banks of long-term debt for working loans.

Liabilities of the National Bank as of the end of the first half of 2024 amount to UAH 1,834 billion (77% of assets).

The main changes in the obligations of the National Bank took place according to the following articles:

- funds of banks, the volume of which increased by 31% to UAH 282.8 billion;

- funds of state and other institutions, the volume of which decreased by 57% to UAH 60 billion;

- a decrease to UAH 70.8 billion (by 17.7%) in the volume of liabilities for loans received by the National Bank from the IMF, which is primarily due to the planned repayment of part of the debt to the fund in the first half of 2024.

The increase in the size of the National Bank's equity capital in the first half of 2024 by 29% - from UAH 420 billion to UAH 543 billion - occurred mainly due to the accumulation of profits of the current year.

The amount of the consolidated financial result of the National Bank for the first half of this year amounted to UAH 122.6 billion.

The results of the revaluation of financial instruments in the amount of UAH 115.4 billion had the greatest impact on the amount of profit, which is mainly a consequence of the change in the official exchange rate and their fair value.

At the same time, we draw attention to the fact that the consolidated profit reflected in the financial statements of the National Bank is not part of the profit before distribution, which is subject to transfer to the State Budget.

The obligations of the National Bank in the part of profit for distribution, which is subject to transfer to the State Budget, will be formed based on the results of the entire year 2024 and made public in the spring of 2025.

The final amount of the part of the profit to be distributed by the National Bank, which will be transferred by the National Bank to the State Budget in 2025, will depend on the actual macroeconomic indicators in 2024 and will be determined after confirmation by an external audit and approval by the Board of the National Bank of the annual financial statements of the National Bank for 2024.

As the Ukrainian News agency earlier reported, the Consolidated Financial Statements of the National Bank of Ukraine provide information to explain events and transactions that are essential for understanding changes in the financial condition and results of the National Bank's activities since the date of approval of the last annual Consolidated Financial Statements of the National Bank.