Banks achieved record profits over five months of the year
This outcome is the best of the last five years
Ukrainian banks earned a profit of 53.6 billion UAH over the first five months of 2023. Almost half of these funds – 81% – were earned by PrivatBank.
This was reported by Opendatabot.
This result is the best for the last five years.
The profit margin for January-May this year is 2.2 times higher than during the corresponding period in 2021. In addition, in January-May 2023, PrivatBank received almost three times the profit compared to the corresponding period in 2021.
The majority of the total profit, 59%, belongs to state-owned banks. In total, over five months of this year, they earned 31.43 billion UAH.
Besides, all 15 banks with foreign capital ended the first five months of this year with a positive balance. Altogether these financial institutions earned 15.01 billion UAH – 28% of the total profit of Ukrainian banks. These figures are 1.7 times higher than the results of the corresponding period in 2021 (8.7 billion UAH).
The leaders among banks with foreign capital were:
- Raiffeisen Bank (3.26 billion UAH);
- UkrSibbank (2.89 billion UAH);
- OTP Bank (2.57 billion UAH).
The group of banks with private capital, which counts 46 institutions, was also "in the black" over the five months of this year with 7.15 billion UAH, which makes up 13% of the total profit of all Ukrainian banks. In this way, they exceeded their earnings for the corresponding period of 2021 by 1.5 times.
The top 3 banks with private capital in terms of profits once again were led by PUMB. It earned 2.99 billion UAH, which makes up 42% of the total earnings of this banking group. Second and third places were taken by Universal Bank (Monobank) (1.31 billion UAH) and Pivdenny Bank (0.55 billion UAH). This trio received 68% of the total profit of this banking group.
The top 10 banks in the country by profit size since the beginning of the year has hardly changed. As before, it is led by PrivatBank, with other leaders being Raiffeisen Bank and PUMB.
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