This is reported by RBK-Ukraine referencing data from the National Bank of Ukraine(NBU). It is also mentioned by Kontrakty.UA.
The profitability ranking is still led by the state-owned PrivatBank, which earned 40.141 billion hryvnias.
According to NBU data, in second place is the state-owned Oschadbank (14.832 billion hryvnias), followed by the state-owned Ukreximbank in third place with 5.561 billion hryvnias.
Next are the foreign banking group Raiffeisen Bank with 4.276 billion hryvnias and OTP BANK with 4.120 billion hryvnias.
According to NBU, 52 out of 61 banks reported profits totaling 104.1 billion hryvnias, while 9 banks reported losses amounting to 418 million hryvnias.
Bank Profits
It is worth noting that in 2023, the corporate tax rate for banks was increased from 18% to 50%. It was anticipated that in 2024, banks would pay a tax rate of 25%. However, the Verkhovna Rada passed a law to raise the rate back to 50%. This tax will be paid by banks in 2025 based on their performance in 2024.
According to updated data, Ukrainian banks accumulated a net profit of 83.0 billion hryvnias throughout 2023. Viable Ukrainian banks in 2022 reported a profit of 21.9 billion hryvnias after tax. This amount is 3.5 times lower than the profit recorded in 2021 (77.4 billion hryvnias).