TOP-10 Ukrainian banks by profitability: who earned the most

17 March 12:06

The Ukrainian banking system demonstrates stable growth. The top 10 domestic banks earned more than UAH 267 billion according to the Opendatabot index. Their revenues increased by 14% over the year. The leaders are state-owned banks, which have shown a significant increase in revenues. This is reported by "Komersant Ukrainian" with reference to Opendatabot.

According to the Opendatabot Index, UAH 267.2 billion was the total income of the top ten banks last year. This is 14% more than in 2023.

At the same time, there was only one change in the ranking: state-owned Ukreximbank replaced foreign Credit Agricole, which dropped to 11th place.

Market leaders and their profits

Five state-owned banks took the top positions in the ranking. In total, they earned UAH 182.15 billion, which is 68% of the total income of the top 10. The main profit generator was PrivatBank with a profit of UAH 110.51 billion.

“PrivatBank’s results for 2024 reflect a year of growth, development and sustainability, when challenges turned into opportunities and ideas that supported and strengthened the country’s economy were implemented, and our increase in tax payments is evidence of strong financial health, operational efficiency and commitment to society as a whole,” – said the bank’s CEO Michael Burknerth.

The state-owned PrivatBank was ranked first in the rating, followed by Oschadbank and Raiffeisen. Universal Bank (mono) and FUIB took the fourth and fifth positions.

Ukrsibbank topped the second five. It also included: Ukrgasbank, Ukreximbank, and Sensbank.

OTP Bank rounds out the top 10.

State-owned banks: record growth of Oschadbank

Last year was the best for state-owned banks, accounting for 68% of total income (UAH 182.15 billion). It is worth noting that the lion’s share is accounted for by Privat – UAH 110.51 billion.

At the same time, Oschadbank has the largest increase among all state-owned banks: its revenue grew 1.6 times and its profit tripled compared to 2023.

Ukreximbank also showed a noticeable increase: 1.4 times over the year. Overall, four out of five state-owned banks increased their revenues.

Instead, Sense Bank lost ground: its revenues fell by 14% and its profits declined by 24%.

Banks with foreign capital: a slight drop, but stability

According to Opendatabot, UAH 47.52 billion was earned by three banks with foreign capital, which is 18% of the total income of the top 10. However, all of them showed a slight decrease in income compared to 2023.

Profits changed unevenly: OTP Bank was the only one in this group to increase its profits (11%), while Raiffeisen and Ukrsibbank saw a drop of 11% and 6%, respectively.

OTP Bank comments that this was made possible by the resumption of lending in the corporate segment, international programs with the EBRD, IFC, USAID, distributed energy financing, and the Bank has resumed lending for the purchase of agricultural land. The plans include full expertise for business on energy independence, digitalization of agricultural lending, and the Bank will develop as a technology partner for financial companies. Attention will also be focused on further expanding partnership programs to better serve entrepreneurs.

Banks with private capital: stability and growth

two banks with private capital received UAH 37.53 billion in loans. This is 14% of the total income of the top 10 banks. The leader in growth was Universal Bank (Monobank) – its revenue rose by 22% and its profit doubled. FUIB also showed good results, with revenue up 14%.

Profitability is also different: while FUIB remained at the level of 2023, Universal Bank doubled its profit.

Universal Bank (Monobank) became the leader in growth – its revenue increased by 22% and its profit doubled. FUIB also showed good results, although its profit remained at the level of 2023.

“We grew by 25% in all key indicators, especially in retail lending (65%). We plan to continue developing and supporting the Ukrainian economy, ” FUIB’s press service commented.

Rating of TOP-10 Ukrainian banks by income in 2024

Name of the bank	Revenue 2024, billion UAH	Index 2025	Index 2024	Index 2023
PrivatBank	110.51	1	1	1
Oschadbank	36.91	2	2	2
Raiffeisen bank	21.91	3	3	3
Universal bank	19.2	4	5	5
FUIB	18.33	5	4	4
UkrSibbank	15.27	6	6	7
Ukrgasbank	12.58	7	9	9
Ukreximbank	11.09	8	12	10
Sense bank	11.06	9	7	6
OTP Bank	10.34	10	8	8