Ukrainian banks have earned almost ₴255B during the 3.5 years of war.

According to the NBU, in the first quarter of 2025 the banking sector reported ₴40B ($955M) in profit, with state-owned banks, including PrivatBank, generating 65.7% of this amount. Last year, banks achieved ₴103.7B ($2.55B) in net profit, driven by increased volumes of loans and investment in government bonds, which represents a 25% increase compared to 2023.

Loan profitability stabilized in 2024, while lending volumes continued to grow. Over the year, the net hryvnia loan portfolio for businesses increased by 21%, and for the population, it grew by almost 40%. An additional factor contributing to banks’ profitability at the end of 2024 was a 35% rise in the volume of investments in government bonds.

In 2023, solvent banks recorded ₴86.5B in net profit, following a 68% reduction in net profit to ₴24.7B during the war’s first year (in 2022). It was reported that banks generated greater profits partly due to investments in NBU certificates of deposit.