In October 2024, state-owned PrivatBank cut its net profit by 2.6 times compared to September, to UAH 1 billion 911.5 million, retaining its leadership among the five most profitable banks in the country, according to the National Bank of Ukraine (NBU).
According to the data, Privat is followed by Oschadbank, which in October increased its net profit by 43.1% to UAH 939.79 million compared to the previous month. Universal Bank (monobank) rounded out the top three, increasing its profit by 68.5% year-on-year to UAH 725.37 million.
It is followed by OTP Bank with UAH 648.71 million (-5.7% compared to September) and Ukrsibbank with UAH 601.30 million (+24.8%).
The second five most profitable banks in October were led by Raiffeisenbank, which increased its net profit in October by 4.7% compared to September to UAH 561.99 million. The list also includes: City Bank – UAH 533.94 million (+16.3%), FUIB – UAH 518.17 million (+2.3%), Credit Agricole Bank – UAH 380.72 million (+1%) and Kredobank – UAH 209.66 million (in September – loss of UAH 57.98 million).
The number of banks whose net profit exceeded UAH 100 million decreased from six in September to three in October: Sense Bank – UAH 204.22 million (-78.2%), Ukrgasbank – UAH 170.37 million (-66.1%), and ProCreditBank – UAH 111.50 million (-21.2%).
Five other financial institutions reported net profit of over UAH 50 million in October: A-Bank with UAH 90.37 million, ING Bank Ukraine with UAH 89.59 million, Ukreximbank with UAH 87.63 million, Credit Dnipro Bank with UAH 63.20 million, and Idea Bank with UAH 59.97 million.
At the same time, the three most unprofitable banks in October were Clearing House Bank with a net loss of UAH 90.49 million, Alliance Bank with a net loss of UAH 73.29 million, and Agroprosperis Bank with a net loss of UAH 30.45 million, respectively.
The list of the most profitable banks for the first ten months of this year is also headed by Privat with a large margin – UAH 50 billion 263.4 million, followed by Oschadbank with UAH 12 billion 775.9 million.
They are followed by Raif – UAH 6 billion 713.58 million, Ukrexim – UAH 5 billion 959.42 million, FUIB – UAH 5 billion 702.26 million, Ukrsib – UAH 5 billion 641.10 million, Credit Agricole – UAH 5 billion 497.69 million, Universal (mono) – UAH 5 billion 139.57 million, Ukrgasbank – UAH 4 billion 843.37 million. OTP Bank closes the top ten leaders in terms of profit in January-October with UAH 4 billion 820.43 million in net profit.
As for unprofitable banks, there are 10 out of 62 of them in Ukraine as of ten months of this year. Pravex Bank has the worst result at UAH 150.29 million, followed by Grant Bank at UAH 65.45 million and Industrialbank at UAH 38.42 million.
In total, in January-October 2024, the net profit of banks amounted to UAH 125.55 billion, which is 2.3% more than the result for the same period last year. At the same time, in October, the net profit of the banking system amounted to UAH 7.92 billion, while in September of this year it was UAH 11.55 billion.
