September 26, 2022 Rating agency “Standard-Rating” (Ukraine) summed up the results of its thirty seventh «Reliability (attractiveness) rating of banking deposits». The results of the first six months of 2022 year indicate that the Ukrainian banking system stopped growing and reacted to the full scale war with Russia with negative indicators. We remind that the banks, which were directly or indirectly controlled by the RF government, were excluded from “Reliability rating of banking deposits” yet in 2018 year due to the inclination of the management of these banks to "political decisions". In the first 6 months of 2022, the quality of banks' loan portfolios began to decline. However, such estimates are preliminary and take into account only a little more than 5 months of the war. So the agency continues to expect a worsening of the situation, but looks optimistically into the future and believes that the banking system of Ukraine, thanks to state banks and banks with foreign capital, will confidently pass the crisis caused by the war. Total loss of the banking system for the 6 months of 2022 year was equal to UAH 4,646 bln, of which only state banks accounted for a total loss of UAH 3,494 bln. Among the non-state banks Alfa Bank showed a loss of UAH 2,4 bln. Only 21 banks from 68 solvent banks showed a loss. None of the banks showed a negative net interest income that also indicates the banking system’s reaction to the war was not as acute as one might think.

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