Ukrainian banks in 2024: who made billions and who suffered losses
21 February 2025 12:46
According to the NBU, Ukrainian banks earned almost UAH 104 billion in profit after tax last year. This is 20% more than in 2023. the top 10 banks accounted for 85% of the total profit of all banks. This is reported by "Komersant Ukrainian" with reference to Opendatabot.
uAH 83.72 billion of income tax must be paid by banks for the past year – 14% more than in 2023.
52 Ukrainian banks made a profit of UAH 104.12 billion. Another 9 banks suffered losses of UAH 418 million. At the end of the year, Cominvestbank was declared insolvent.
the top 10 banks accounted for 85% of the total profit of all banks. This is UAH 88.57 billion. The list of leaders remained almost unchanged, except that the private Universal Bank (Monobank) pushed the foreign Citibank out of the ranking.
Top 10 Ukrainian banks by profit in 2024
| Rank | Name of the bank | Profit in 2024, UAH billion | Profit 2023, billion UAH | Rank in 2023 |
|---|---|---|---|---|
| 1 | JSC “PrivatBank” | 40.14 | 37.76 | 1 |
| 2 | JSC “Oschadbank” | 14.83 | 4.75 | 5 |
| 3 | JSC Ukreximbank | 5.56 | 5.22 | 2 |
| 4 | JSC Raiffeisen Bank | 4.28 | 4.78 | 4 |
| 5 | JSC “OTP Bank” | 4.12 | 3.71 | 8 |
| 6 | JSC “Credit Agricole Bank” | 4.09 | 2.79 | 10 |
| 7 | JSC UkrSibbank | 4.08 | 4.34 | 6 |
| 8 | JSC “FUIB” | 3.94 | 3.96 | 7 |
| 9 | JSC “Sens Bank” | 3.81 | 5.04 | 3 |
| 10 | JSC Universal Bank | 3.72 | 1.87 | 12 |
PrivatBank once again topped the ranking with UAH 40.14 billion after tax, accounting for 39% of the total profit of the banking system. It also paid a record UAH 40.86 billion in tax, which is almost half of all tax revenues from banks.
Top state-owned banks by profit
State-owned banks earned UAH 67.19 billion, which is 23% more than in 2023. This is 65% of the total profit of the banking system.
privatBank accounted for 39% of the total profit of all banks: uAH 40.14 billion after tax. At the same time, the bank paid a record UAH 40.86 billion in taxes to the budget, which is almost half of all tax revenues from banks.
Oschadbank showed the largest increase, with its profit tripling year-on-year.
In total, state-owned banks have to pay UAH 48.36 billion.
Top banks with foreign capital by profit
14 banks with foreign capital earned UAH 22.51 billion. This is 22% of the total profit of the country’s banks. Credit Agricole Bank demonstrated the largest growth, with its net profit increasing by 1.5 times.
Foreign banks paid UAH 22.99 billion (3% by 2023), which is 27.5% of the total income tax in the banking sector.
Top banks with private capital by profit
Banks with private capital earned UAH 14 billion after tax, which is 1.5 times more than in 2023 (UAH 9.4 billion). This group accounts for 13% of total profit.
MTB Bank showed the largest increase: 6.8 times over the year.
The amount of income tax paid by banks with private capital increased by 37% to UAH 12.37 billion (14.7% of the total tax of banks).
