14:43 20.11.2023

Most profitable banks in Q3 PrivatBank, Oschadbank, Sense bank, Raiffeisen Bank, UkrSibbank, FUIB, OTP, Ukreximbank

4 min read
Most profitable banks in Q3 PrivatBank, Oschadbank, Sense bank, Raiffeisen Bank, UkrSibbank, FUIB, OTP, Ukreximbank

State-owned PrivatBank in the third quarter of 2023 again topped the list of banks with the highest net profit with an indicator of UAH 13.624 billion, followed by two more state-owned banks: Oschadbank – UAH 7.338 billion and the nationalized Sense Bank – UAH 3.441 billion.

According to the data published by the National Bank of Ukraine on its website, the top five banks with the highest net profit in the third quarter also included two banks with foreign capital: Raiffeisen Bank with UAH 3.017 billion and Ukrsibbank with UAH 2.99 billion.

The second five included the state-owned private Ukrainian FUIB with UAH 2.004 billion, the foreign subsidiary OTP Bank with UAH 1.893 billion, the state-owned Ukreximbank with UAH 1.619 billion and two more banks with foreign capital: Citibank with UAH 1.47 billion and Credit Agricole Bank with UAH 1.299 billion.

Universal Bank (monobank) received almost the same net profit for July-September of this year – UAH 1.294 billion, while for Kredobank, which follows, it is already significantly less – UAH 594.6 million.

Two more banks received profits of over UAH 300 million in the third quarter: A-Bank – UAH 355.2 million and Ukrgasbank – UAH 325.0 million.

Among these 14 banks, only four added reserves: Sense - UAH 548.0 million, while Citibank, Raiffeisen and Credit Agricole – from UAH 30 million to UAH 20 million, while FUIB liquidated them for UAH 1.413 billion, monobank – UAH 1.137 billion, OTP, A-Bank and Ukrgasbank – from UAH 555 million to UAH 510 million.

The list of seven unprofitable banks in the third quarter was topped by the First Investment Bank of sanctioned shareholders – UAH 33.0 million, the banks Credit Dnipro and Pravex-Bank had similar losses – UAH 29.8 million and UAH 27.5 million, respectively.

In general, for the third quarter, the net profit of 63 solvent banks reached UAH 42.33 billion, with the dissolution of reserves by UAH 5 billion and an increase in total assets by UAH 87.25 billion.

The leaders in asset growth were the same three most profitable state banks: PrivatBank with UAH 36.84 billion, Oschadbank with UAH 18.26 billion and Sense Bank with UAH 11.36 billion. This allowed Sense Bank to return to the top ten largest banks by assets, from which he dropped out in June before nationalization, and immediately to 8th place.

In the third quarter, assets decreased most at Ukreximbank – by UAH 15.65 billion, Pivdenny – by UAH 6.99 billion and Ukrgasbank – by UAH 1.54 billion, and a total of 23 banks showed a decrease in assets.

During the third quarter, banks increased their government bonds portfolio by UAH 23.56 billion, and the leaders here were Citibank with UAH 4.61 billion and Ukrgasbank with UAH 4.48 billion, followed by TAScombank, FUIB and International Investment Bank – from UAH 2.5 billion to UAH 2.1 billion.

Investments in government bonds decreased the most in July-September at Ukreximbank – UAH 2.45 billion, Sense Bank – UAH 1.24 billion, PrivatBank – UAH 0.7 billion and First Investment Bank – UAH 0.48 million.

In general, based on the results of nine months of this year, PrivatBank remains the most profitable bank by a wide margin of UAH 43.37 billion, or 39.5% of the entire net profit of the banking system for this period.

Oschadbank received UAH 14.18 billion in net profit in January-September, Raiffeisen Bank – UAH 6.14 billion, FUIB – UAH 5.68 billion, UkrSibbank – UAH 5.66 billion, Sense Bank – UAH 5.58 billion, OTP Bank – UAH 4.75 billion, Citibank – UAH 4.23 billion, Ukreximbank – UAH 3.60 billion.

Among the 12 banks whose net profit for nine months exceeded UAH 2 billion are also Ukrgasbank with UAH 2.92 billion, Universal (monobank) with UAH 2.86 billion and Credit Agricole with UAH 2.29 billion.