The National Bank of Ukraine has published its interim condensed consolidated financial statements for the first half of 2024, which show significant changes in the regulator’s financial position, reports Komersant ukrainskyi
According to the report, signed on 27 August 2024, the NBU’s equity increased by 29% over six months – from UAH 420 billion to UAH 543 billion. This growth was mainly due to the accumulation of this year’s profit.
The NBU’s total assets remained almost unchanged, decreasing by only 1% compared to the end of 2023, and amounted to UAH 2,378 billion. However, the structure of assets has undergone some changes.
- International reserves decreased by 6.5% to USD 37.9 billion. THE NBU’S INTERNATIONAL RESERVES DECREASED BY 6.5% TO USD 37.9 BILLION.
- The volume of non-resident securities in the NBU’s portfolio increased by 11% to UAH 1,195.5 billion.
- Funds and deposits in foreign currency and precious metals decreased by 27.8% to UAH 269.3 billion.
- The loan portfolio decreased by 18% as banks repaid their long-term debt.
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As of the end of the first half of 2024, the NBU’s liabilities amounted to UAH 1,834 billion, which is 77% of its assets. The main changes in liabilities include:
- An increase in due to banks by 31% to UAH 282.8 billion.
- Decrease in amounts due to government and other institutions by 57% to UAH 60 billion.
- Reduction in liabilities on IMF loans by 17.7% to UAH 70.8 billion.
The NBU’s consolidated financial result for the first half of 2024 amounted to UAH 122.6 billion. The largest impact on the profit was the revaluation of financial instruments in the amount of UAH 115.4 billion, which was due to changes in the official exchange rate and the fair value of these instruments.
It is important to note that this consolidated profit is not part of the profit to be transferred to the state budget. The final amount of funds that the NBU will transfer to the budget in 2025 will be determined after the external audit is confirmed and the NBU Council approves the annual financial statements for 2024.