Oschadbank suffered losses due to the war
During the period January-June, the bank lost 4.03 billion hryvnia, for the same period last year, the bank declared a profit.
Finbalance writes about it.
The reduction or cancellation of many commissions, the introduction of credit holidays significantly affected the bank's performance.
For the first half of 2021, the bank reported UAH 512.6 million in profit. In 2022, the bank's losses amounted to:
- UAH 683 million - in February;
UAH 199 million - in March;
UAH 2.53 billion - in April;
UAH 1.3 billion - in May;
- UAH 448.6 million - in June.
In January, the bank declared a profit of UAH 1.126 billion.
"This is primarily due to the additional formation of reserves in the amount of UAH 5.4 billion. During the war, the bank ensures high liquidity and solvency, consistently provides banking services and credit assistance to citizens and businesses. The need for such reserves was caused by the deterioration in the quality of the loan portfolio due to the military Russian attacks on the territory of Ukraine. The Bank always adheres to a conservative approach to the formation of reserves," Oschadbank said.