Ukrainian banks earned over UAH 54 billion in net profit in half a year

Ukrainian banks completed the first half of 2026 with significant profits, but the tax burden on the sector has increased significantly. In six months, banks received UAH 108.57 billion in pre-tax profit, which is 9% more than in the same period last year.

At the same time, income tax expenses reached UAH 54.5 billion. As a result, 59 Ukrainian banks received a total of UAH 54.07 billion in net profit, according to Opendatabot data.

Taxes took away more than half of the profit

For comparison, in the first half of 2025, banks’ pre-tax profit amounted to UAH 100.06 billion, and tax expenses – UAH 21.99 billion.

Thus, last year, tax accounted for about 22% of pre-tax profit, while this year tax expenses exceeded half of the corresponding figure.

TOP-10 banks received 88% of the profit

The banking system’s profits remain largely concentrated among the largest players.

The ten most profitable banks together earned UAH 47.68 billion, or 88% of the system’s total net profit. The top ten included three state-owned banks, five banks with foreign capital, and two institutions with private capital.

PrivatBank remains the absolute leader. In six months, it received UAH 24.56 billion in net profit – about 45% of the result of the entire banking system.

State-owned banks control 60% of the profit

The five state-owned banks together received UAH 32.46 billion in net profit, providing 60% of the total result of the banking sector.

At the same time, it was state-owned banks that accounted for the largest share of tax expenditures – UAH 33.5 billion in the first six months of the year.

How banks with foreign capital worked

15 banks with foreign capital received 11.91 billion UAH of net profit, or 22% of the total result of the system.

They spent 11.14 billion UAH on income tax.

Of the 15 institutions, 13 ended the first half of the year in the red, earning a total of 11.95 billion UAH. Pravex Bank and Transitional Bank UTE Bank recorded losses – a total of 43 million UAH.

monobank and FUIB provided 72% of the profit of private banks

Banks with private capital received 9.7 billion UAH of net profit in the first half of the year. At the same time, this group’s expenses for income tax amounted to 9.87 billion UAH.

Two institutions earned the most among private banks. Universal Bank, on the basis of which monobank operates, received 3.85 billion UAH, and FUIB – 3.12 billion UAH of net profit.

Together, these two banks accounted for 72% of the private banking sector’s profits.

At the same time, nine private banks ended the first half of the year with losses totaling UAH 161.78 million.

The results of the first half of 2026 demonstrate the high profitability of the banking system, but at the same time a significant concentration of income: almost nine out of every ten hryvnias of net profit fell on only the ten largest banks in terms of this indicator.