In May 2024, state-owned PrivatBank increased its net profit by 80% compared to April and with UAH 6.5 billion topped the country’s five most profitable banks, according to the National Bank of Ukraine (NBU) on its website. According to the data, Privat is followed by state-owned Oschadbank, which earned UAH 2.3 billion in net profit in May, up 40.3% from April.
Another state-owned bank, Ukreximbank, rounded out the top three most profitable banks in May, increasing its net profit more than threefold to UAH 1.3 billion compared to April, and pushing Raiffeisen Bank to fourth place, whose net profit in May decreased by 16.3% to UAH 670.2 million compared to April.
The top five in May was rounded out by Pivdenny Bank, which quadrupled its net profit in May compared to April to UAH 632 million.
The second five were formed by Universal Bank (mono) – UAH 625.4 million, Uksibbank – UAH 594.8 million, FUIB – UAH 534.9 million, Credit Agricole Bank – UAH 506.6 million and OTP Bank – UAH 446 million.
According to the statistics, Ukrgasbank, which was the 7th largest bank in terms of net profit in April, took the 12th position in May with a net profit of UAH 370.3 million.
In addition to Ukrgasbank, four other banks made a net profit of over UAH 100 million in May 2024: City Bank – UAH 390 million, Sense Bank, which was nationalized last July, – UAH 254 million, Cominbank – UAH 137.8 million, and Kredobank – UAH 121 million.
The top three most unprofitable banks in May were led by Poltava-Bank with a net loss of UAH 28.8 million, followed by Cominvestbank with UAH 17.2 million and Industrialbank with UAH 6.5 million.
Overall, in the first 5 months of 2024, banks’ net profit increased to UAH 67.9 billion from UAH 52.1 billion in the first four months of the year.
