NBU sends UAH 5 bln sixth tranche of profit for 2016 to national budget

The National Bank of Ukraine (NBU) on October 6, 2017 sent the sixth tranche of profit for 2016 in the amount of UAH 5 billion to the national budget, the central bank said on its Facebook page.

Thus, the National Bank has to transfer another UAH 9.4 billion by the end of this year.

As reported, the national budget for 2017 suggests that the National Bank will transfer at least UAH 45 billion this year. At the same time, the NBU Council at a meeting on April 15 approved the distribution of UAH 59.45 billion of the National Bank's profit for 2016, including sending UAH 44.379 billion to the national budget and using UAH 15.072 billion for the formation of net worth reserves.

The first tranche of UAH 10 billion was sent to the budget on April 21, and the second, third, fourth and fifth in the amount of UAH 5 billion were sent on May 10, June 8, July 7 and August 7. After sending the May tranche, the NBU obtained approval by the Finance Ministry for the schedule of sending the rest of profit for 2016. The sum was divided into monthly tranches to reduce the influence of the government funds on liquidity of the banking system and achievement of inflation targets by the NBU.