This is reported by RBK-Ukraine referencing data from the National Bank of Ukraine(NBU). Additionally, it is noted 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 another state bank, Ukreximbank, with 5.561 billion hryvnias.
Next are the banks from the foreign banking group Raiffeisen Bank at 4.276 billion hryvnias and OTP BANK at 4.120 billion hryvnias.
According to NBU, 52 out of 61 banks reported a profit totaling 104.1 billion hryvnias, while 9 banks recorded losses amounting to 418 million hryvnias.
Bank Profit
It is worth noting that in 2023, the bank profit tax was increased from 18% to 50%. It was anticipated that in 2024, banks would pay a tax rate of 25%. However, the Verkhovna Rada has 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.
As per revised data, Ukrainian banks achieved a net profit of 83.0 billion hryvnias for the entire year of 2023. Viable Ukrainian banks recorded a profit of 21.9 billion hryvnias after taxes in 2022. This is 3.5 times less than the profit of 2021 (77.4 billion hryvnias).