This is reported by RBK-Ukraine referring to data from the National Bank of Ukraine (NBU). This information is also conveyed by Kontrakty.UA.
The profitability ranking is still led by the state-owned PrivatBank, which earned 56.314 billion hryvnias.
According to the NBU, in second place is the state-owned Oschadbank (12.861 billion hryvnias), followed by Raiffeisen Bank, a foreign banking group, with 6.952 billion hryvnias.
Next are the state-owned Ukreximbank with 6.029 billion hryvnias and Crédit Agricole Bank, another foreign banking group, with 5.925 billion hryvnias.
According to the NBU, 51 out of 62 banks reported a profit totaling 131.473 billion hryvnias, while 11 banks recorded losses amounting to 388 million hryvnias.
Bank Profits
It is worth noting that in 2023, the profit tax 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 revised data, Ukrainian banks achieved a net profit of 82.835 billion hryvnias for the entire year of 2023. Viable Ukrainian banks reported a profit of 24.9 billion hryvnias after tax for the year 2022. This is 3.1 times less than the record profit of 2021 (77.4 billion hryvnias).