Bank profits grew by 20% in 2024
At the same time, banks paid 83.72 billion UAH in profit tax last year
21 February 2025
Ukrainian banks earned almost 104 billion UAH in net profit last year, according to the NBU. This is 20% more than in 2023. Banks are expected to pay over 83 billion UAH in profit tax for the past year. 85% of the total profit of all banks comes from the top 10 banks.
Ukrainian banks earned 103.7 billion UAH in net profit last year after paying profit tax, which is 20% more than in 2023. Banks are expected to pay 83.72 billion UAH in profit tax for the past year—14% more than in 2023.
A total of 52 Ukrainian banks reported a profit of 104.12 billion UAH, while 9 banks incurred losses amounting to 418 million UAH. Notably, at the end of the year, Cominvestbank was declared insolvent.
85% of the total banking profit comes from the top 10 banks, amounting to 88.57 billion UAH. The list of leaders remained mostly unchanged, except that the private Universal Bank (Monobank) replaced the foreign CitiBank in the ranking.
| Place | Name | 2024 | 2023 | Place in 2023 |
|---|---|---|---|---|
| 1 | PrivatBank | 40.14 | 37.76 | 1 |
| 2 | Oschadbank | 14.83 | 4.75 | 5 |
| 3 | Ukreximbank | 5.56 | 5.22 | 2 |
| 4 | Raiffeisen Bank | 4.28 | 4.78 | 4 |
| 5 | OTP Bank | 4.12 | 3.71 | 8 |
| 6 | Credit Agricole Bank | 4.09 | 2.79 | 10 |
| 7 | Ukrsibbank | 4.08 | 4.34 | 6 |
| 8 | PUMB | 3.94 | 3.96 | 7 |
| 9 | Sense bank | 3.81 | 5.04 | 3 |
| 10 | Universal Bank | 3.72 | 1.87 | 12 |
PrivatBank earned 40.14 billion UAH after taxes, making up 39% of total banking profits. It also paid a record ₴40.86 billion UAH in taxes, nearly half of all tax revenues from the banking sector.
Seven state-owned banks collectively earned 67.19 billion UAH, 65% of total banking profits (+23% from 2023). Oschadbank showed the highest growth, tripling its profit compared to the previous year.
Total tax payments from state banks: 48.36 billion UAH.
14 foreign-owned banks generated 22.51 billion UAH, 22% of total banking profits. Crédit Agricole Bank saw the highest growth, with net profit increasing 1.5 times.
Total taxes paid by foreign banks: 22.99 billion UAH (+3% vs. 2023), making up 27.5% of total banking sector tax revenue.
14 billion UAH net profit after taxes, 1.5x more than in 2023 (9.4 billion UAH). This group accounts for 13% of total banking profits.
MTB Bank saw the highest growth, increasing profits 6.8 times in a year.
The income tax paid by privately owned banks increased by 37% to 12.37 billion UAH, accounting for 14.7% of the total banking sector tax revenue.
Source: Opendatabot
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