At the same time, banks’ profits increased by 22% Almost UAH 120 billion was earned by Ukrainian banks in 7 months of 2024, according to the NBU. Net profit after tax amounted to UAH 93 billion. Income tax is also growing along with earnings. Thus, this year, financial institutions have already paid 1.8 times more income tax than last year. Privat accounts for 40% of the profit of all banks, and the MTB has grown the most – by as much as 13 times.
Banks in Ukraine made a total of UAH 119.44 billion in profit. This is 22% more than in the same period last year: UAH 97.53 billion.
This year, the amount of income tax increased by 1.8 times to UAH 25.83 billion. Despite the tax increase, net profit is still 13% higher than last year: UAH 93.61 billion compared to UAH 83.18 billion last year.
Alpari Bank withdrew its license of its own free will in June, so there are now 62 banks operating in Ukraine. 8 of them suffered losses.
The top 10 banks in Ukraine currently account for 86% of the total profit: UAH 80.13 billion.
State-owned banks
State-owned banks account for 63% of the total profit of all banks. Privat is a stable leader: UAH 37.16 billion of profit after tax. This is 8% more than last year.
Privat accounts for 40% of the total profit of all banks in the country. The bank’s tax expenses increased 1.5 times and amounted to UAH 12.13 billion.
In total, 5 out of 6 state-owned banks earned a total profit of UAH 58.84 billion during this period, and tax expenses amounted to UAH 14.6 billion.
Banks with foreign capital
Banks with foreign capital earned UAH 21.5 billion. This is 9% more than in the same period last year. The profit tax of banks in this group increased 1.7 times this year and reached UAH 7.26 billion. They currently account for 23% of the total profit of all banks.
Raiffeisen Bank remained the leader of this group: UAH 4.87 billion. This is 28% more than in the same period last year. Raiffeisen Bank’s tax expenses doubled to UAH 1.63 billion.
Banks with private capital
The total profit of banks with private capital increased by 29% to UAH 13.39 billion. Accordingly, taxes doubled to UAH 3.95 billion. Currently, this group of banks accounts for 14% of the total profit.
FUIB is the leader of the group with UAH 4.24 billion. At the same time, MTB Bank showed the largest increase among all banks in the country: by 13 times, up to UAH 539.8 million.
As a reminder, the Verkhovna Rada is currently considering draft law No. 11416-d, which proposes to introduce a 50% income tax for banks in 2024.
