According to the National Bank of Ukraine, the country's solvent banks achieved a net profit of 131.085 billion UAH after taxes from January to November 2024. State-owned and foreign banks led the profit rankings, with PrivatBank standing out.
The top three banks accounted for over half of the sector's total profit, approximately 75 billion UAH.
Other notable banks in the top ten include Ukreximbank (6.029 billion UAH), Credit Agricole Bank (5.925 billion UAH), PUMB (5.864 billion UAH), Universal Bank (5.463 billion UAH), Ukrgasbank (5.037 billion UAH), Citibank (4.535 billion UAH), and Ukrsibbank (4.136 billion UAH).
The NBU reported that 51 out of 62 banks were profitable, generating a total of 131.473 billion UAH, while 11 banks incurred losses of 388 million UAH.
In 2023, Ukraine significantly increased the bank profit tax rate from 18% to 50%. Although a reduction to 25% was initially planned for 2024, the Verkhovna Rada decided to maintain the elevated tax rate, meaning banks will pay a 50% tax on their 2024 earnings in 2025.