₴11.78 billion — the extra taxes banks must pay for 2024

Ukrainian banks made a total pre-tax profit of ₴186.8 billion in 2024 — almost the same as earlier estimates from the National Bank. But after taxes, profit dropped by ₴12.8 billion (or 12%) and now stands at ₴90.9 billion.

This drop happened because the profit tax increased sharply — by 15%, reaching ₴95.9 billion. As a result, 51% of the profit went to taxes. For comparison: In 2023, it was 48%, In 2022, only 25%.

93% of all extra tax charges went to state-owned banks — that’s ₴11.78 billion in additional profit tax. The biggest amount was paid by Oschadbank: its profit tax grew 2.5 times — from ₴4.3 billion to ₴10.66 billion (an increase of ₴6.36 billion).

Ukreximbank paid ₴2.94 billion more — its tax increased 15 times. Sense Bank (formerly Alfa-Bank) had the sharpest rise — tax grew 58 times, reaching ₴1.97 billion (+₴1.94 billion). The only state bank where the tax decreased was Ukrgasbank, by ₴455 million.

Banks with foreign capital were charged an extra ₴118.57 million in total.

Privately owned banks got an extra ₴1.34 billion in taxes. The largest increases were: A-Bank: +₴541 million, Bank Pivdenny: +₴308 million, MTB Bank: +₴225 million.

The biggest increase after correction was for the Ukrainian Bank for Reconstruction and Development — its tax rose 84 times, from ₴247,000 to ₴20.76 million.

In total: 22 banks paid ₴12.7 billion more after correction. 12 banks had their tax reduced by ₴513.4 million, most of it (88.8%) from Ukrgasbank. As a result, the total profit tax was ₴5 billion higher than banks’ net profit.

Context ​

The reason for these changes is a new tax rule. In 2024, banks calculated profit tax at a rate of 25% and could reduce their taxable income by using losses from previous years. But after Law No. came into effect, the tax rate increased to 50%, and banks were no longer allowed to use past losses to lower their taxes. As a result, the taxes they had to pay were recalculated and became higher.