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State-owned Ukreximbank earned UAH 2.474 billion in the first quarter of 2024

State-owned Ukreximbank earned UAH 2.474 billion in the first quarter of 2024

In January-March 2024, Ukreximbank earned UAH 2.474 billion for the state and became one of the four most profitable banks in Ukraine, the bank's press service reports.

‘In 2023, Ukreximbank's financial result is expected to reach a record UAH 5.7 billion in the bank's history, the exact amount of the bank's profit will be confirmed by the results of the ongoing independent audit,’ the statement said.

In 2023, the Bank paid UAH 2,502 million in income tax to the state budget.

As of 1 April 2024, JSC Ukreximbank:

  • No. 1 in the banking market in terms of the loan portfolio of legal entities (including provisions) (UAH 76.9 billion);
  • No. 1 in terms of corporate customer accounts (UAH 152 billion);
  • Leader in terms of administration of funds from IFIs (UAH 9.75 billion).
  • No. 1 in terms of financing of Ukrainian companies (14.4%).

The report also states that, according to the NBU, the profit of Ukrainian banks after tax for Q1 2024 amounted to UAH 40.5 billion. Banks earned 18% more than in the same period last year. In 2023, Ukraine's banking sector generated UAH 83.2 billion of net profit after tax. This is almost four times higher than in 2022 and 8% higher than in 2021. Banks paid UAH 76.64 billion in taxes to the state budget under the new law, which is 10 times more than a year ago.

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The mission of the Association of Ukrainian Banks is to support the development of the national banking system. The AUB cooperates with the Verkhovna Rada of Ukraine on improving the legislation governing banking activities, and interacts with the National Bank of Ukraine on regulatory support for the functioning of banks and non-bank financial institutions. The CBA takes care of the professional development of bank employees, expands international relations with associations and banking institutions of other countries.

 

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