In 2024, Ukrainian banks earned UAH 40.5 billion, up 19% year-on-year, despite higher taxation. During the first quarter, only 8 out of 63 banks showed losses. Writes UNN with reference to Opendatabot.
Details
In the first quarter of 2024, Ukrainian banks earned UAH 40.5 billion in net profit after tax. Despite an increase in the tax rate from 18% to 25%, banks' profits grew by 19% year-on-year. There are 63 banks in Ukraine, including 6 state-owned, 14 with foreign capital and 43 private banks.
- Only 8 banks suffered losses of UAH 111 million this year.
- The country's top 10 banks earned UAH 34.22 billion in the first quarter, accounting for 84% of the total profit of all banks.
- During this period, Ukrainian banks paid UAH 10.34 billion in corporate income tax, which is one and a half times higher than last year. Privatbank paid almost half of this amount, namely UAH 4.84 billion. It also topped the list of leaders, earning UAH 13.86 billion in the first quarter of 2024, which is one third of the total profit of all banks. However, this is 14% less than it earned in the same period of the previous year, when the profit amounted to UAH 16.04 billion.
Overall, six state-owned banks accounted for 60% of the total profit of all banking institutions, or UAH 24.28 billion. At the same time, only the First Investment Bank, which recently became a state-owned bank, suffered a loss of UAH 7.6 million in the first quarter.
- Raiffeisen Bank continues to be a leader among banks with foreign capital, having earned UAH 2.53 billion this year, which is 23% more than in the same period of 2023.
- Credit Agricole Bank showed a significant growth, increasing its profit 20 times year-on-year, earning UAH 2.02 billion against UAH 102.9 million in the first quarter of 2023, the largest increase among all Ukrainian banks.
In total, foreign banks earned UAH 10.2 billion, which is a quarter of the total profit of all banks.
- Pravex Bank suffered a loss of UAH 76.7 million in the first quarter.FUIB remains the leader among banks with private capital, earning UAH 2.13 billion in the quarter, up 38% year-on-year. It, along with Universal Bank (Monobank), earned half of the total profit of banks in this category.
- MTB Bank demonstrated the highest profit growth among private banks, increasing it 13 times compared to the first quarter of 2023.
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