State-owned PrivatBank and Oschadbank have earned half of the total revenue of all Ukrainian banks since the beginning of the year.
During 10 months of 2023, Ukrainian banks earned 122.7 billion hryvnias. This is more than double for the corresponding period of 2021, when the profit reached 58.35 billion. This was reported on Thursday, December 7, by the open data platform OpenDatabot, citing data from the National Bank.
It is indicated that only four banks in Ukraine received losses in the amount of 99 million Hryvnia.
The top 10 banks by revenue had minor changes: the private Universal Bank (Monobank), which dropped in the ranking in the spring, returned with record profits, displacing the state-owned Ukrgasbank.
State-owned PrivatBank and Oschadbank earned half of the total income of all Ukrainian banks in the 10 months of 2023. Their income also increased – double for PrivatBank (47.1 billion) and 19 times for in Sberbank (14.58 billion).
The profit share of state-owned banks is 61% – 11% more than in 2021.
All 14 banks with foreign capital turned positive based on the results of 10 months of 2023. The total income of the group reached UAH 30.43 billion – 1.6 times higher than the corresponding period in 2021. But the share of foreign banks in total income decreased to 25%.
Among banks with foreign capital, Raiffeisen Bank is the leader (6.89 billion). Its profit this year is 1.7 times higher than the 10 months of 2021.
During the 10 months of 2023, banks with private capital increased their income by 1.7 times compared to 2021. The share of income of banks in this group decreased to 14% this year.
FUIB remains the leader of the group with a revenue of UAH 6.48 billion – almost double the corresponding figure for 2021.
Universal Bank, part of a group of banks with private capital, received a record profit for October – UAH 1.7 billion and managed to return to the top 10 banks in the country.
These two banks account for nearly 2/3 of the group’s profits.
Opendatabot infographics
We remind you that in January-September, Ukrainian banks received 110 billion Hryvnia in profit. So, the absolute record was updated for the second month in a row.
And a day before it became known that President Vladimir Zelensky signed a law on additional taxation of banks. Based on the results of 2023, the tax rate will be 50%.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.