Ukraine's National Bank to transfer 73.6% more profit to state budget for 2025 than year earlier

The National Bank of Ukraine (NBU) will transfer UAH 146.1 billion in profit to the state budget for 2025, which is 73.6%, or UAH 61.9 billion, more than in 2024, according to the regulator's consolidated financial statements.

"Despite the fact that profit is not the goal of any central bank, under conditions of full-scale war, the National Bank will again make a significant contribution this year to supporting the state's defense capability and resilience by transferring part of its distributable profit to the state budget," NBU Governor Andriy Pyshnyy said.

The National Bank's distributable profit for 2025 totaled UAH 155 billion, of which UAH 8.9 billion will be directed to general reserves, with the remainder going to the state budget after coordinating timelines with the Ministry of Finance. The regulator's financial result for the year reached UAH 153 billion.

Its main components were net interest income of UAH 17.4 billion and a revaluation of financial instruments of nearly UAH 113.2 billion, resulting from changes in the official exchange rate and their fair value. Of this amount, UAH 16.4 billion is an unrealized result accumulated as a revaluation reserve in the regulator's capital.

National Bank expenses related to the production of banknotes, coins, and other products, personnel costs, administrative, and other expenses rose to UAH 10 billion in 2025 from UAH 8.1 billion a year earlier.

As of December 31, 2025, the NBU balance sheet total grew 22.2% to UAH 3.3006 trillion from UAH 2.7 trillion a year earlier.

The main components of the National Bank's assets at the end of 2025 were funds and deposits in foreign currency and banking metals totaling UAH 1.2234 trillion, a 2.5-fold increase compared to UAH 487.1 billion a year earlier.

Meanwhile, the volume of non-resident securities decreased 11.9% to UAH 1.0893 trillion against UAH 1.2359 trillion a year earlier, and Ukrainian securities fell 2.1% to UAH 699.5 billion against UAH 714.8 billion.

International reserves managed by the NBU increased 30.8% over the year to $57.3 billion from $43.8 billion.

The central bank's liabilities at the end of 2025 totaled UAH 2.721 trillion, or 82% of the balance sheet. Among the main changes for the year, the regulator cited a 13% increase in the volume of banknotes and coins in circulation to UAH 926.5 billion, a 73% increase in funds of state and other institutions to UAH 481.3 billion, and a 41% increase in NBU certificates of deposit to UAH 775.7 billion. At the same time, debt obligations to the IMF for quota payments decreased 57.6% to UAH 22.5 billion.

The National Bank's equity grew 2.1% in 2025 to UAH 579.5 billion from UAH 567.6 billion, mainly due to an increase in revaluation reserves.