Photo: Getty images
The National Bank of Ukraine has published adjusted results of the banking sector’s profitability for 2024. After adjusting entries, bank profit tax increased by almost 15% to UAH 95.9 billion, Opendatabot reports.
Although pre-tax profit remained almost unchanged at UAH 186.8 billion, banks’ net profit decreased by 12% to UAH 90.9 billion. As a result, 51% of profits are now used to pay taxes (48% in 2023 and only 25% in 2022).
State-owned banks are under major tax pressure:
- Oschadbank: tax increase by 2.5 times – from UAH 4.3 billion to UAH 10.66 billion
- Ukreximbank: 15-fold increase to UAH 2.94 billion
- Sens Bank: UAH 1.94 billion – a 58-fold increase
- Ukrgasbank is the only state-owned bank where the tax will be reduced (by UAH 455 million)
Overall, 93% of all additional charges relate to state-owned banks.
Private and foreign banks:
- Private banks will pay an additional UAH 1.34 billion, with A-Bank paying the most (+UAH 541 million)
- Banks with foreign capital – only UAH 118.57 million of additional charges
Overall, the tax amount exceeded the banking sector’s net profit by more than UAH 5 billion for the first time.
