PrivatBank currently accounts for 83% of the overall net profit of state banks.
6 October 2021
Materials are published 3 times per week
PrivatBank’s net profit decreased by 17.3% to UAH 11.6 billion year-on-year in July. However, it was still five times more than the combined net profit of other state banks in Ukraine.
The net profit distribution in Ukraine’s bank sector in H1 was as follows: state banks accounted for 46%, foreign banks for 34%, and Ukrainian banks with private capital for 19%.
It demonstrates significant shifts in the Ukrainian banking market compared to last year when the portion of state banks in the overall net profit was bigger—68% (foreign banks took 23% and Ukrainian private banks 9%).
However, state banks remain the key driver of profits in the banking sector. They became the most profitable among other banks in H1 2021, having made UAH 14 billion.
|PrivatBank JSC CB||1,535,233||-225,633||1,075,221||3,661,230||2,644,852||2,920,597|
|Raiffeisen Bank JSC||380,358||378,347||328,766||447,892||334,626||463,705|
|UNIVERSAL BANK JSC||161,565||310,479||395,342||280,930||205,629||295,666|
|OTP BANK JSC||193,190||184,409||261,679||217,528||209,312||228,822|
Ukrainian banks raised their profits by almost one-quarter in H1 2021. According to the National Bank of Ukraine, they earned UAH 30 billion in H1 2021 versus UAH 23.8 billion in H1 2020. The profit of state banks slid 13.5% on the year. The banks of foreign banking groups posted almost two times bigger profit, while that of private banks rose 2.5 times.
To sum up, the banks of foreign banking groups and Ukrainian banks with private capital improved their profits amid the growth of the Ukrainian financial market and the shrinking portion of the state banks where PrivatBank is the main player.
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