A single bank accounted for half of the profits of Ukraine's entire banking system

In the first quarter of this year, the state-owned PrivatBank reported a net profit of 12.8 billion hryvnias, accounting for 49% of the total profit of Ukraine’s entire banking system during that period, which reached 26 billion hryvnias. 

This was reported by Larysa Chernyshova, Deputy Chair of PrivatBank’s Management Board for Finance, during the presentation of the 2025 integrated report. 

According to Larisa Chernyshova, the financial institution also paid 13.1 billion hryvnias in income tax to the state budget. She noted that PrivatBank is not only the largest financial institution, accounting for 22 percent of the financial sector’s total net assets, but also an institution that truly helps maintain the country’s economic stability during this most challenging historical moment.

As of the end of 2025, PrivatBank paid 58 billion hryvnias in income tax, accounting for nearly 19 percent of all income tax revenues to the state budget. In addition, in June, the bank plans to pay 20.4 billion hryvnias in dividends to the state budget, which amounts to 70 percent of last year’s net profit. The official added that for her, this is the clearest definition of what a state-owned bank should be, since a bank is not a wallet for storing profits, but rather an instrument that transforms financial results into the country’s commercial resources, since behind every hryvnia of profit lies economic stability, energy security, preserved jobs, a functioning business sector, and a country that moves forward despite everything.

The Deputy Chair of the Board also highlighted the institution’s high operational efficiency, where the cost-to-income ratio stands at around 20 percent, while the banking sector average exceeds 42 percent. Chernyshova emphasized that this means spending 22 kopecks to generate one hryvnia of revenue, while the entire banking system spends over 42 kopecks. She compared these figures to driving the same road but with completely different engine efficiency.