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%.
The Datagroup-Volia-lifecell Group (DVL) plans to invest UAH 1.5 billion in the development of an energy-efficient GPON internet network over three years, with plans to achieve 60% penetration of the technology in every city undergoing modernization by 2025.
“DVL continues to develop its optical network by introducing GPON throughout Ukraine. We also have ambitious plans in this area: the company plans to invest UAH 1.5 billion in the development of the GPON network over three years… Our goal for GPON by the end of 2025 is to achieve penetration of up to 60% in every city where we are carrying out large-scale modernization,” said Sergey Tereshchuk, technical director of the merged company Datagroup-Volia-lifecell (DVL), in an exclusive interview with the Interfax-Ukraine news agency.
He noted that the pace of construction depends on external factors, including the restoration of infrastructure destroyed by shelling, the organization of backup key network nodes to ensure stable operation, and the ability to hire workers.
By 2025, DVL plans to build a network of connections for 300,000 apartments. Of this volume, as of early May, 100,000 have already been built. Since the start of the project in May 2024, more than 270,000 apartments have been covered by GPON technology (within one year – IF-U).
“We are talking about a large-scale modernization of the network in Lviv, Vinnytsia, Kyiv, Kharkiv, and Dnipro. We are also building additional networks in 26 cities across Ukraine,” said Tereshchuk.
DVL is also connecting base stations to GPON. As part of the pilot project currently being implemented by the company, it plans to reach around 800 sites connected to fiber optics by 2025. Of these, 300 sites have already been connected during the first phase, during which the solution was tested.
“We are connecting GPON and fiber optics that Datagroup has near its base stations. We have a list of sites that need additional capacity to increase speed. These are the first steps in preparation for the introduction of 5G,” said Tereshchuk.
Datagroup-Volia-lifecell, energy-efficient internet, INVESTMENTS
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.
The chairman of the supervisory board of SK Veles (Odessa), Suren Sardaryan (who owns 56.249% of the insurer’s shares), and member of the supervisory board Karini Sardaryan (42.918%) have submitted their resignations. This was reported in the company’s information posted on the NSSMC information system. It is also specified that they held these positions from April 28, 2023, to May 16, 2025, and are currently vacant.
As reported, on May 5, 2025, the National Bank of Ukraine imposed sanctions on Veles Insurance Company (Odessa) for submitting its 2024 financial statements to the NBU after the deadline.
Veles Insurance Company has been operating in the market since 1998. It has 15 licenses for voluntary and compulsory types of insurance. It is a member of the Insurance Business Association. Its authorized capital is UAH 39 million.
member of the supervisory board, NATIONAL BANK OF UKRAINE, Veles Insurance Company
