Ukrainian National Bank names most profitable banks in H1

MOSCOW. Aug 20 (Interfax) - The state-owned PrivatBank, Ukraine's largest bank in terms of assets, topped the list of the most profitable banks in January-June 2024 with a net profit of UAH 30.65 billion, while Oschadbank, the second largest bank in terms of assets, is ranked second in terms of profit with UAH 8.81 billion, Ukrainian media reported, citing data released by the National Bank of Ukraine (NBU).

The top five banks with the highest net profit for H1 this year were state-owned Ukreximbank with UAH 4.36 billion, Raiffeisen Bank with UAH 4.31 billion and FUIB with UAH 3.82 billion.

Last year at the end of the first half of the year, Oshchad was followed by FUIB with UAH 3.68 billion, Ukrsibbank with UAH 3.57 billion and Raiffeisen with UAH 3.12 billion, while Ukrexim was ranked tenth with UAH 1.98 billion, with Privat's and Oshchad's profits totaling UAH 29.75 billion and UAH 6.84 billion, respectively.

The second five banks in terms of profit this year were Credit Agricole Bank with UAH 3.61 billion, Uksibbank with UAH 3.43 billion, state-owned Ukrgasbank with UAH 3.30 billion, OTP Bank with UAH 2.64 billion, and Universal Bank (mono) with UAH 2.35 billion.

Hence, OTP dropped from the sixth place to the ninth, Ukrgasbank retained the eighth place, Citi Bank and Sense Bank were pushed out of the top ten, and mono rose from the 11th to the tenth position after Ukrexim's sharp rise up the ranking over the past year.

Other three banks posted net profits of over UAH 1 billion in the first six months of 2024: Sense Bank, which was nationalized last July, with UAH 2.28 billion, Citi Bank with UAH 2.19 billion and Pivdennyi Bank with UAH 1.27 billion.

Three financial institutions ended the first half of this year with net profits over UAH 0.5 billion: Kredobank with UAH 961.6 million, A-Bank with UAH 838.6 million, and ProCreditBank with UAH 508.8 million.

The leaders in terms of financial results for June were Privat with UAH 6.69 billion, up 3.2% compared to May 2024, FUIB with UAH 625.6 million, up 16.9%, Sense with UAH 569.9 million, up 2.2-fold compared to May, Ukrsibbank with UAH 496.6 million, up 16.5%, and Credit Agricole with UAH 480.5 million, up 5.2%.

At the same time, Oschadbank, which finished April and May with a net profit of UAH 1.62 billion and UAH 2.27 billion respectively, gained only UAH 0.07 billion in June.

The rating of the most loss-making banks for six months of 2024 is topped by Pravex Bank with UAH 82.5 million, followed by Industrialbank with UAH 32.5 million and the First Investment Bank (PINBank) seized by the authorities with UAH 21.3 million.

The Nationalized Motor Bank with a net loss of UAH 15.2 million and Grant Bank with UAH 14.1 million closed the top five.

In June, the biggest losses were incurred by: Pivdennyi Bank with UAH 119.9 million, Globus Bank with UAH 36.7 million, Alliance Bank with UAH 36.5 million, Grant Bank with UAH 15.8 million and the International Investment Bank (IIB) with UAH 13.8 million.

Overall, in January-June the profit of banks increased to UAH 79.04 billion from UAH 67.97 billion at the end of five months and UAH 52.07 billion at the end of four months.