Ukrainian banks have made excessive profits this year: TOP-10 leaders
9 July 2024 16:59
In Ukraine, banking institutions managed to make excessive profits in the first five months of the year. Banks earned 27% more than in the same period in 2023. This is reported by "Komersant Ukrainian" with reference to Opendatabot.
It is noted that during this time, banks received UAH 67.97 billion in profit after tax. They have to pay UAH 16.5 billion in income tax to the budget, which is 1.6 times more than last year.
The most profitable banks with a share of total income of 85% are:
- four state-owned banks
- four banks with foreign capital;
- two private banks.
Top 10 Ukrainian banks by profit:
- PrivatBank – 35.3%
- Oschadbank – 12.9%
- Ukreximbank – 6.1%
- Raiffeisen Bank – 5.9%
- FUIB – 4.7%
- Credit Agricole Bank – 4.6 per cent
- Ukrsibbank – 4.3 per cent
- Ukrgasbank – 4.2%
- OTP Bank – 3.5%
- Universal Bank – 3.3 per cent
- Other -15.3%
Top state-owned banks by profit
State-owned Privatbank leads the ranking with a 35% profit share of all banks. Over five months, it earned UAH 23.96 billion in profit (after tax). However, this is 6% less than last year. Privatbank will pay about half of the taxes of all financial institutions during this period – UAH 8.04 billion.
The next most profitable banks are:
- Oschadbank – 12.9%;
- Ukreximbank – 10.1%;
- Ukrgasbank – 6.8%
- Sens Bank – 4.1%.
The First Investment Bank posted a loss of UAH 16.5 million.
Top banks with foreign capital by profit
Raiffeisen Bank became the leader among banks with foreign capital with almost UAH 4 billion in profit. This is 22% more than in the same period last year. Its tax expenses increased to UAH 1.32 billion. This is almost twice as much as in the same period last year.
Overall, 13 out of 14 banks in the group made a profit of UAH 16.23 billion. This is 24% of the total profit of all Ukrainian banks. Credit Agricole Bank showed the highest profit growth, earning 5 times more than in the same period last year – UAH 3.12 billion.
Top banks with private capital by profit
Banks with private capital earned UAH 10.42 billion in profit. This is almost 1.5 times more than in the same period of 2023. The leader of this group was FUIB, which earned UAH 3.2 billion. This is 7% more than last year. Together with Universal Bank (Monobank), they received half of the group’s profit – UAH 5.44 billion.
MTB Bank showed the largest profit increase among all Ukrainian banks, increasing its profit 13.6 times to UAH 436.77 million.
