Since the war, Ukrainian banks have built up reserves and increased profitability.
In 2022 the banking sector accumulated UAH 119B in their collective accounts. This is a 35-fold jump compared to the UAH 3.4B accumulated in 2021, according to data from opendatabot. Only 10% of banks suffered losses in January 2023. The remaining financial institutions earned the highest monthly amount to date since the war began, UAH 14.7B. This is more than twice as much as in the relatively peaceful January of 2022. At that time, Ukrainian financial institutions’ total profit amounted