NBU names 5 most profitable banks in Ukraine in Aug

MOSCOW. Oct 17 (Interfax) - State-owned PrivatBank topped the list of Ukraine's five most profitable banks in August 2024, reducing its net profit by 3.6% month-on-month to UAH 6.280 billion, Ukrainian media reported, citing the National Bank of Ukraine (NBU)'s ranking published on its website.

PrivatBank is followed by Universal Bank (mono), which posted net profit of UAH 792.96 million in August compared to UAH 841.6 million in July, down 5.8% month-on-month.

Raiffeisen Bank closed the top three, having increased its net profit by 34.1% compared to July to UAH 747.33 million, followed by Ukreximbank and Ukrsibbank with UAH 623.14 million, up 65.1% month-on-month, and UAH 584.79 million, up 7% month-on-month, respectively.

The second five banks in terms of profit in August were Credit Agricole Bank, whose net profit dropped 16% to UAH 517.46 million compared to July, followed by Citi Bank with UAH 498.81 million, down 7.7% month-on-month, OTP Bank with UAH 479.25 million, up 31.2%, Ukrgasbank with UAH 439.10 million, up 2%, and FUIB with UAH 433.77 million, up 2.9%.

Another six banks, which posted net profit of over UAH 100 million in August 2024, are Sense Bank with UAH 236.36 million, Oschadbank with UAH 182.61 million, KredoBank with UAH 143.68 million, ProCreditBank with UAH 132.95 million, A-Bank with UAH 118.49 million, and Pivdennyi Bank with UAH 104.74 million.

At the same time, the three most unprofitable banks in August were Lvov Bank with net loss of UAH 101.31 million, Clearing House Bank with UAH 72.36 million and Grant Bank with UAH 58.95 million.

Overall, PrivatBank also topped the list of the most profitable banks for the first eight months of this year by a large gap with UAH 43.445 billion, followed by Oschadbank with UAH 11.179 billion.

The next ones coming in a tight group are Raiffeisen with UAH 5.614 billion, Ukreximbank with UAH 5.358 billion, Credit Agricole Bank with UAH 4.739 billion, FUIB with UAH 4.677 billion, Ukrsibbank with UAH 4.557 billion, and Ukrgasbank with UAH 4.170 billion.

Six other banks, which also posted net profit over UAH 1 billion for the first 8 months of this year, are mono with UAH 3.983 billion, OTP Bank with UAH 3.483 billion, Citi Bank with UAH 3.232 billion, Sense Bank with UAH 2.449 billion, KredoBank with UAH 1.298 billion, and A-Bank with UAH 1.40 billion.

As for unprofitable banks, there are eight such banks out of the 62 in Ukraine in January-August. Pravex Bank has the worst indicator with UAH 122.58 million in losses, followed by Grant Bank with UAH 72.93 million, and IndustrialBank with UAH 43.83 million.

Overall, the net profit of banks totaled UAH 106.08 billion in January-August 2024, including UAH 12.47 billion in August compared to UAH 14.58 billion in July.