Thanks to OVDP, the return on the Ukrainian banks’ assets increased to 11.6%.

According to the National Bank, the return on assets increased by 0.2 percentage points on average over the last year, up to 11.6% in the first quarter of 2024, primarily due to revenues from OVDP – their share increased by 6.7 percentage points over the last year to 26.4%.

On the other hand, the yield from NBU certificates of deposit decreased, as did their share in interest income. The sector’s return on capital is about 50%, considering taxation at the increased tax rate of 25% last year. The main source of profit remains net interest income, which continued to grow.

Higher volumes in loan portfolios contributed to the growth of income from lending, while the profitability of lending decreased due to the downward trend of interest rates. Banks’ non-cash payments and net commission income also grew.

According to the NBU, state-owned PrivatBank remains the most profitable bank. However, in the first quarter, its net profit fell by 14% compared to last year’s corresponding period to ₴13.9B.