Over UAH 117 billion in profit: the most profitable and unprofitable banks in Ukraine
18 November 11:44
In the first nine months of 2024, 62 Ukrainian banks earned UAH 117.63 billion in profit after taxes, up 7% from last year. This is reported by Opendatabot, citing data from the National Bank, Komersant ukrainskyi reports
ukrainian banks made UAH 117.63 billion in profit net of taxes for 9 months of 2024. Despite the tax rate that has increased from 18% to 25% this year, this is 7% more than last year: uAH 109.85 billion.
PrivatBank continues to be the leader in terms of earnings. Its profit accounts for 41% of the total profit of banks. MTB Bank demonstrated the largest growth – 13 times over the year, up to UAH 603.59 million.
| Rank | Name of the bank | September 2024 | September 2023 | Rank in 2023 |
|---|---|---|---|---|
| 1 | JSC “PrivatBank” | 48.35 | 43.37 | 1 |
| 2 | JSC “Oschadbank” | 11.84 | 14.18 | 2 |
| 3 | JSC “Raiffeisen Bank” | 6.15 | 6.14 | 3 |
| 4 | JSC Ukreximbank | 5.87 | 3.6 | 9 |
| 5 | JSC “FUIB” | 5.18 | 5.68 | 4 |
| 6 | JSC “Credit Agricole Bank” | 5.12 | 2.29 | 12 |
| 7 | JSC UkrSibbank | 5.04 | 5.66 | 5 |
| 8 | JSB “Ukrgasbank” | 4.67 | 2.92 | 10 |
| 9 | JSC Universal Bank | 4.41 | 2.86 | 11 |
| 10 | JSC “OTP Bank” | 4.17 | 4.75 | 7 |
Top state-owned banks by profit
state-owned banks accounted for 63% of profits among all financial institutions. This is mainly due to the earnings of PrivatBank: uAH 48.35 billion or 41% of the total profit of all banks. Over the year, Privat’s profit grew by 11%.
The second most profitable bank was Oschadbank (UAH 11.84 billion), and Raiffeisen Bank (UAH 6.15 billion) was third.
In September, another Ukrainian bank became a state-owned bank, Motor Bank. Currently, two of the seven state-owned banks are unprofitable (Motor Bank and PIN Bank).
Top banks with foreign capital by profit
Banks with foreign capital accounted for 23% of the total profit, or UAH 27.32 billion. Only one of the 14 foreign banks currently suffered a loss of UAH 139.57 million – Pravex Bank.
Raiffeisen remains the leader in the group: uAH 6.15 billion of profit (the same as in the same period last year).
Top banks with private capital by profit
Private banks earned UAH 16.25 billion in profit. Their profits grew by 22% over the year.
FUIB accounted for a third of the group’s earnings – UAH 5.18 billion. Over the year, the bank’s profit decreased by 9%.
MTB Bank had the largest increase in profit among all banks: by 13 times, up to UAH 603.59 million
