Ukrainian banks to pay record taxes

Ukrainian banks will pay UAH 44.52 billion in income tax for 11 months of 2024, which is 70% more than in the same period last year.

This is stated in the analytics of Opendatabot.

According to the National Bank of Ukraine, banks paid a record UAH 7.05 billion in tax in November after the rate increased from 25% to 50%. Of this amount, 63% or UAH 4.47 billion was paid by banks with foreign capital.

The total profit of banks before taxes for this period reached UAH 175.6 billion, which is 12% higher than in 2023. The tax burden for 2024 involves 62 financial institutions.

According to analysts, 11 banks suffered losses of UAH 388 million. Currently, 18% of Ukrainian banks are unprofitable.

Earlier, Intent wrote that state-owned banks received 63% of the total profit, with PrivatBank being the largest: UAH 48.35 billion, or 41% of the total. Its profit grew by 11% over the year. Banks with foreign capital accounted for 23% of the profit (UAH 27.32 billion). Raiffeisen remained the group leader with UAH 6.15 billion. Private banks earned UAH 16.25 billion, showing an increase of 22% over the year. FUIB remains the leader in this category, although its profit decreased by 9%.

In 2024, Ukrainian banks filed 25% fewer lawsuits against debtors, namely almost 68,000 claims. Monobank, A-Bank, and PrivatBank are the most frequently sued banks.

Meanwhile, the Grand Chamber of the Supreme Court dismissed the cassation appeal of the former owner of IMEXBANK JSC, Odesa-based businessman Leonid Klimov. The court upheld the decision of the Court of Appeal to recover UAH 309 million from Klimov in favor of the National Bank of Ukraine to repay the bank's debt under a refinancing loan.

Ірина Глухова