How banks’ profits and taxes have changed this year
UAH 117.63 billion of profit was earned by 62 Ukrainian banks after taxes for 9 months of 2024, according to the NBU. This is 7% more than last year. Privat continues to lead the way in terms of earnings, accounting for 41% of the total profit of banks. MTB Bank showed the best growth – 13 times over the year.
Ukrainian banks earned UAH 117.63 billion in profit, net of taxes, in the first 9 months of 2024. Despite the tax rate that increased from 18% to 25% this year, this is 7% more than last year: UAH 109.85 billion.
63% of the profit among all financial institutions went to state-owned banks. This is mainly due to the earnings of PrivatBank: UAH 48.35 billion or 41% of the total profit of all banks. Over the year, Privat’s profit grew by 11%.
In September, another Ukrainian bank became state-owned, Motor Bank. Currently, 2 out of 7 state-owned banks are unprofitable
Banks with foreign capital accounted for 23% of the total profit – UAH 27.32 billion. Only 1 out of 14 foreign banks currently suffered losses of UAH 139.57 million – Pravex Bank.
Raiffeisen remains the leader in the group: UAH 6.15 billion of profit (the same as in the same period last year).
Private banks made UAH 16.25 billion in profit. Their profits increased by 22% over the year. FUIB accounted for one third of the group’s earnings – UAH 5.18 billion. Over the year, the bank’s profit decreased by 9%.
MTB Bank had the largest increase in profit among all banks: by 13 times, up to UAH 603.59 million.
https://opendatabot.ua/analytics/banks-2024-9
