The National Bank of Ukraine (NBU) reported a consolidated financial result of UAH51.2bn ($1.3bn) for January-June 2025, down 58% from the same period a year earlier, the central bank said on August 27, reported Interfax-Ukraine.

The fall in profit was mainly due to weaker results from operations with foreign currency assets and monetary gold, which dropped to UAH17.1bn in the first half from UAH95.7bn a year earlier. In the second quarter alone, these operations yielded UAH21bn, compared with UAH49.7bn in April-June 2024.

Second-quarter profit totalled UAH36.4bn, 44% lower than a year ago. The NBU said the largest contribution to overall earnings came from UAH25.6bn in interest income on non-resident securities, changes in the fair value of financial instruments and movements in the official exchange rate.

The central bank stressed that its consolidated profit does not represent distributable earnings, which will be determined based on full-year results and published in spring 2026. In April and May 2025, the NBU transferred UAH84.2bn to the state budget from its 2024 profit.

International reserves under the NBU’s management rose 3% to $45.1bn at the end of June, while total liabilities reached UAH2.171 trillion, 1.8% higher than at the start of the year. Funds of state and other institutions increased by 35% to UAH375.2bn, while liabilities under IMF loans fell 34% to UAH34.8bn.