PrivatBank topped the ranking of the most profitable banks in the first quarter of 2025 with a net profit of UAH 16.8 billion. The top three also included state-owned Oschadbank and Ukreximbank with UAH 4.7 billion and UAH 2.4 billion, respectively.
According to the National Bank’s website on Monday, Raiffeisen Bank (UAH 2.2 billion) and Universal Bank (mono) (UAH 1.7 billion) (all based in Kyiv) also made it into the top five.
According to the published data, the second five most profitable banks were PUMB with UAH 1.5 billion, Credit Agricole Bank with UAH 1.3 billion, Ukrsibbank with UAH 1.3 billion, City Bank with UAH 1.2 billion, and OTP Bank with UAH 1.1 billion.
According to NBU statistics, in the first quarter of 2025, 50 Ukrainian banks received UAH 40.4 billion in net profit, while 10 operated with a total loss of UAH 0.4 billion.
The largest losses were incurred by Alliance Bank – UAH 163.9 million. It was followed by RVS Bank – UAH 140.8 million, Pravex Bank – UAH 44.9 million, Industrialbank – UAH 26.8 million, and PIN Bank, which was transferred to the state – UAH 14.6 million.
MIB also ended the quarter in the red with a loss of UAH 12.8 million, followed by Ukrainian Capital Bank with UAH 10.2 million, BTA Bank with UAH 5.7 million, UBRR with UAH 3.8 million, and Trust Capital Bank with UAH 2.7 million.
In terms of income tax expenses, PrivatBank remains the leader with UAH 5.3 billion, followed by Raiffeisen Bank with UAH 0.70 billion, Universal Bank (mono) with 0.59 billion, PUMB with 0.51 billion, and Ukrsibbank with 0.45 billion.
In total, banks paid 10.5 billion hryvnia in taxes to the budget in January-March this year.
PrivatBank remains the leader in terms of net interest income with UAH 18.4 billion, followed by Oschadbank with UAH 7.3 billion, Raiffeisen Bank with UAH 4.4 billion, Universal Bank (mono) with UAH 4.4 billion, and PUMB with UAH 3.9 billion.
Ukrsibbank also made it into the top ten with UAH 2.9 billion, Ukrgasbank with UAH 2.6 billion, Ukreximbank with UAH 2.3 billion, OTP Bank with UAH 2.2 billion, and Sens Bank with UAH 1.9 billion.
PrivatBank leads the ranking in terms of net commission income with UAH 6.6 billion. Next are Oschadbank with UAH 1.9 billion, Universal Bank (mono) with UAH 0.75 billion, Raiffeisen Bank with UAH 0.64 billion, and A-Bank with UAH 0.50 billion.
The top ten also includes: PUMB with UAH 0.53 billion, Sens Bank with UAH 0.44 billion, Ukrsibbank with UAH 0.38 billion, Bank Alliance with UAH 0.33 billion, and Ukrgasbank with UAH 0.33 billion.
As reported, Ukrainian banks received UAH 39.96 billion in net profit in the first quarter of 2025, which is only 0.2% more than in the same period of 2024.
Insurance company Knyazha Vienna Insurance Group (Knyazha VIG, Kyiv) collected UAH 876.9 million in insurance payments in January-March 2025, which is 61.35% more than in the same period a year earlier, with net premiums amounting to UAH 453.822 million. (+ 32.17%).
This information was published by the rating agency Standard-Rating, confirming the insurer’s financial stability/credit rating at “uaAA+” for the period in question.
According to the RA website, during the period in question, income from individuals grew by 67.65% to UAH 631.450 million, and from reinsurers by 3.66 times to UAH 2.119 million. The share of individuals in gross premiums was 72.01%, and the share of reinsurers was 0.24%.
Insurance payments sent to reinsurers in the first quarter of 2025 increased by 71.40% compared to the same period in 2024, to UAH 312.435 million. Thus, the share of reinsurance companies in insurance premiums increased by 2.09 percentage points, to 35.63%. to 35.63%.
Insurance payments and reimbursements increased by 36.62% to UAH 297.438 million. The level of payments decreased by 6.14 percentage points to 33.92%.
At the end of the first quarter of 2025, operating profit amounted to UAH 43.579 million, and net profit increased 3.36 times to UAH 60.756 million.
As of April 1, 2025, the assets of IC “Knyazha VIG” increased by 14.12% to UAH 2.487 billion, equity capital by 15.23% to UAH 518.348 million, liabilities showed an increase of 13.83% to UAH 1.969 billion, cash and cash equivalents decreased by 5.24% to UAH 77.270 million.
It is reported that as of April 1, 2025, the insurer made current financial investments in the amount of UAH 1.203 billion, consisting of government bonds (70.49% of the investment portfolio) and deposits in banks with high credit ratings (29.51% of the portfolio).
PJSC “IC ‘Knyazha Vienna Insurance Group’ is part of the Vienna Insurance Group Ukraine, whose main shareholder is Vienna Insurance Group AG Wiener Versicherung Gruppe (Austria). The group also includes PJSC “IC ‘Ukrainian Insurance Group’ – 100%, PJSC ‘IC ’KnyazhaLIFE Vienna Insurance Group” – 97.8%, LLC “USG Consulting” – 50.7%, LLC “VIG Services Ukraine” – 78.7%, LLC “Assistance Company ‘Ukrainian Assistance Service’ – 100%.
On May 22, at 6 p.m., the Lavra Gallery will host the opening of the art project “Tribute to Fashion.” The author of the project is a young Kyiv artist, Dana Ozova, a fashion artist who subtly and exquisitely combines fashion and personal emotions in her paintings.
The exhibition “Tribute to Fashion” is a visual monologue about the presence of feelings in space.
It is an exquisite performance about states and moods in colors and silhouettes. Architecture, chandelier light, fashion, and images are immersed in an atmosphere where the line between memory and reality is blurred. Interiors, the glare of spotlights, bodies, and light and shadow are scenes not of events, but of states.
At the intersection of fashion, painting, and theater, the artist’s paintings give birth to special stories — intimate, dramatic, seductive, in which each image is a moment between words and silence. Everything here is a gesture, a pause, a touch.
The combination of large-scale paintings and sophisticated fashion sketches in the exhibition creates a certain rhythm, a silent music of the soul that stays with us as a memory, an impression, an emotion. Emotion is the main artistic image of the project. It is the basis of inspiration and beauty, fashion, painting, music, and architecture.
Each canvas is a frame frozen in time.
Painting in which sensations emerge through texture, semi-gestures, and the silence after movement.
This scene is not for the viewer, but for those who know how to see.
Dana Ozo’s works exist on the border between fashion, theater, and painting — in those areas of perception where sophistication becomes emotion and the image becomes meditation.
Nine companies from the top ten made a profit last year.
According to the OpenDataBot 2025 Index, the total income of the leading construction companies amounted to UAH 49.49 billion. This is 41% more than in 2023. The top three leaders have remained almost unchanged for three years in a row. Nine companies from the top ten managed to make a profit last year. Half of the top companies are engaged in the construction of roads and highways.
The top ten construction companies in the OpenDataBot Index 2025 earned over UAH 49 billion in revenue. This is 41% more than in 2023. The combined profit of the leaders grew 1.6 times to UAH 3.09 billion.
The lion’s share of the top companies’ revenue comes from five companies specializing in road construction: 75% or UAH 36.9 billion.
Four other companies are engaged in the construction of residential and non-residential buildings, with a more modest contribution of 20% of revenue. One company in the ranking operates in the narrow field of exploratory drilling.
For the third year in a row, the top three leaders in the Construction Industry Index have remained virtually unchanged. The absolute leader is Avtomagistral-Pivden from Odesa, owned by Oleksandr Boiko. In 2024, the company earned UAH 13.2 billion (27% of the total revenue of the top companies), which is 1.6 times higher than in 2023. Profit reached a record 1.36 billion UAH.
In second place is Vinnytsia-based Avtostrada, owned by Maksym Shkil. The company earned 10.8 billion UAH (+30%) and increased its profit 1.6 times to 74.6 million UAH.
The company notes that Avtostrada is one of the ten largest donors to the Ukrainian Armed Forces, having transferred more than UAH 2.1 billion since the start of the full-scale war. The company is actively involved in the reconstruction of critical infrastructure, including water pipelines and energy facilities. It is also one of the largest taxpayers in its industry.
Third place went to Rostdorstroy in Odesa (Yevgeny Konovalov and Yuri Schumacher). The company increased its revenue by 15% (to UAH 6.85 billion), while its profit fell by a quarter.
Onur Construction International from Lviv (owned by Turkish entrepreneurs Cetinjeviz Onur and Ihsan) climbed to fourth place. Its revenue grew by 30% to UAH 3.82 billion, and its profit almost tripled to UAH 418 million.
Fifth place went to a newcomer to the Index, Atelier de France Kyiv, a company engaged in the restoration of architectural monuments. Its revenue grew 6.4 times to UAH 2.9 billion, and its profit tripled (UAH 44 million). The owner is Frenchman Antoine Courtois, Philippe, Marie.
Ferrostroy from Poltava returned to the Index after a year’s hiatus, increasing its revenue 1.7 times to UAH 2.62 billion and its profit 2.6 times to UAH 298 million. The company is engaged in the construction of buildings.
Kosul (part of Rinat Akhmetov’s SCM Group) lost a quarter of its revenue and four places in the ranking, falling to seventh place with UAH 2.6 billion. At the same time, its profit grew by 8% to UAH 758.8 million. This company accounts for a quarter of the earnings of the top ten companies.
Vladimir Vypyrail’s Kyiv Energy Construction Company showed the largest profit growth — 8.8 times (to UAH 16.9 million), although its revenue fell by 6% to UAH 2.3 billion.
Techno-Bud-Center (Andriy Yarema and Yuriy Khanin) is another newcomer. Revenue grew 1.6 times to UAH 2.2 billion, and profit grew 1.5 times to UAH 26 million.
Vesta-I, which was headed by a new owner in March 2025, Tajik citizen Karimi Asolat Ismatzoda, showed a fourfold increase in revenue (UAH 2.2 billion), but instead of profit, it reported a loss of UAH 1.9 million.
So, in 2025, the following companies left the rating:
In January-March 2025, PJSC Insurance Company PZU Ukraine (Kyiv) increased its gross premiums by 10.89% to UAH 541.961 million, and net insurance premiums by 17.82% to UAH 555.2 million.
According to Standard-Rating, which updated the company’s credit rating/financial stability (reliability) rating on the national scale to “uaААА” based on the results of the period, revenues from individuals increased by 15.56% to UAH 378.1 million. Thus, the share of individuals in the insurer’s gross premiums amounted to 69.77%, and the share of reinsurers – 0.06%.
The volume of insurance payments and reimbursements made by the insurer in the first quarter of 2025 was 20.13% higher than in the same period of 2024, and the level of payments increased by 3.97 percentage points (pp) to 51.60%.
In January-March, the company’s operating profit amounted to UAH 40.570 million, compared with a loss in the first quarter of 2024, while net profit rose to UAH 58.395 million.
As of April 1, the insurer’s assets increased by 1.97% to UAH 2.547 billion, equity by 6.15% to UAH 1.028 billion, while liabilities decreased by 0.67% to UAH 1.519 billion, and cash and cash equivalents decreased by 18.02% to UAH 341.567 million.
The RA reports that as of the reporting date, the insurer had made financial investments in the amount of UAH 650.594 million, consisting of government bonds (UAH 298.355 million) and bank deposits (UAH 352.239 million), which had a positive impact on its liquidity. Thus, liquid assets covered 65.33% of the liabilities of IC “PZU Ukraine.”
The RA emphasizes that PrJSC IC ‘PZU Ukraine’ is supported by one of the largest insurance groups in Central and Eastern Europe, the PZU Group (which includes the parent company of PrJSC IC ‘PZU Ukraine,’ PZU S.A.).
Coal Energy S.A. (Luxembourg), a coal company with its main assets in Ukraine, which are currently under Russian occupation, signed a letter of intent with Polish mining company Siltech in mid-April to lease its real estate and infrastructure for coal mining in Poland.
“The main purpose of this letter of intent is to advance Coal Energy’s plan to apply for a license to extract coal from deposits adjacent to those owned by Siltech,” Coal Energy said in a stock exchange announcement.
It is noted that the lease is scheduled to begin at the end of 2025, after Coal Energy obtains all necessary permits to commence coal mining from the licensed deposits.
Coal Energy is expected to mine coal using Siltech’s existing mining infrastructure. This approach will reduce the time needed to start coal mining and eliminate the need for Coal Energy to invest in the construction of a new mining facility.
Coal Energy shares have been listed on the Warsaw Stock Exchange since August 8, 2011. Its main activity was coal mining at two underground mines and working with coal dumps in the Donetsk region. According to the company, due to Russia’s aggression, it currently has no coal assets in Ukraine.
In recent years, the company has had virtually no operating activities. According to the latest report on Coal Energy’s website, its total assets at the end of September 2023 amounted to $9.7 million, while its liabilities amounted to $11.6 million and its capital was negative at $1.9 million.
At the end of 2023, the company acquired Ukrmineral Trading LLC with the aim of obtaining licenses for the extraction of minerals in Ukraine, as well as Advanced Industrial Technologies Sp. z.o.o. with the aim of providing underground mining services to coal mines in Poland. In addition, in early 2024, Coal Energy registered a new company, Greentech Solutions Sp. z.o.o., for the reclamation and processing of industrial waste dumps and mine tailings, as well as the reclamation of land destroyed by human activity.
The founder, chairman of the board of directors, and CEO is Viktor Vyshnevsky.
