Almost half of the profit of all banks in the country is earned by Privatbank (infographic)

In the first quarter of 2023, the profit of Ukrainian banks grew three times compared to the corresponding period in 2021 before the Great War. Privatbank earned almost half of the total profit of all banks in the country. This is reported by Opendatabot, a platform for working with open data.

Photo: pmg.ua 2

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More than half of the total profit was earned by state banks. Privatbank, Raiffeisen and FUIB are leaders among their groups of banks in terms of profitability. Several banks ended the first quarter with a loss, but in general, the profit of banks increased significantly compared to the previous period.

In the first quarter of 2023, 65 banks in Ukraine earned UAH 34 billion. This is three times more than in the first quarter of 2021 — UAH 10.9 billion. It should be mentioned that as of the end of March 2022, Ukrainian banks generally had a negative balance sheet.

Among all banks in the country, state banks confidently hold the leadership. Thus, all 4 state banks made it into the top 10 financial institutions in the country according to the results of the first quarter of 2023.

Five banks with foreign capital and only one with private capital also made it to the top in terms of profitability. Financial institutions from this list earned 88% of the total profit of Ukrainian banks (30 billion out of 34 billion UAH).

Now the top 10 Ukrainian banks in terms of profit include:

place	Name of the bank	Profit, UAH billion
1	Privatbank	16.04
2	Savings Bank	2.09
3	Raiffeisen Bank	2.06
4	Ukrsibbank	1.75
5	PUMB	1.54
6	OTP Bank	1.46
7	Ukrgasbank	1.43
8	Citibank	1.4
9	Sense Bank	1.19
10	Ukreximbank	1.14

Only 5 banks out of 65 (8%) ended the 1st quarter of 2023 with a loss of UAH 39.8 million.

State banks

In general, state-owned banks earned UAH 20.7 billion — that’s 61% of the total profit of all banks in Ukraine.

The championship is stably held by Privatbank. In the first three months of this year, the bank earned almost 7 times more than in the corresponding period of 2021: UAH 16 billion against UAH 2.4 billion. Currently, its share in the total profit of all banks is 47%.

Banks with foreign capital

In total, banks with foreign capital in the first quarter of this year earned 26% of the profit of all banks in the country — UAH 9 billion. Out of the entire group, only one institution — Pravex Bank — ended the period with a loss of UAH 4.8 million.

Raiffeisen is consistently in the first place among banks with foreign capital. Its profit for the quarter amounted to UAH 2.06 billion. UkrSibbank and OTP Bank also made it into the top 3.

Banks with private capital

This group includes the largest number of banks that ended the first quarter of 2023 with losses. Thus, 4 banks out of 46 received losses in the amount of UAH 35 million.

In total, a group of banks with private capital earned UAH 4.35 billion in three months. More than a third (35%) of the earnings of this group is accounted for by FUIB. For the first quarter, the profit of FUIB amounted to UAH 1.54 billion. Universal Bank (Monobank) and Pivdenny also made it into the top 3 in the group of banks with private capital.

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Source: Ministry of Finance

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