2024-08-29T10:45:00+03:00 Politics 2024-09-22T04:00:02+03:00

Ukrainian news

Banks receive record profits, but Finance Ministry and NBU against increasing their tax

Banks receive record profits, but Finance Ministry and NBU against increasing their tax

Banks continue to make record profits, which increased by 12.55% to UAH 93.6 billion in the first seven months of 2024.

This follows from a statement by the National Bank of Ukraine (NBU), the Ukrainian News agency reports.

In the first seven months of 2024, solvent banks received a record UAH 93.62 billion in net profit.

This is 12.55% more than the profit for the same period in 2023 (UAH 83.2 billion).

It is worth noting that the lion's share of the profit of the banking system belongs to PrivatBank, which earned more than UAH 30 billion in the first half of the year alone.

As it became known, the government's bill on increasing taxes provided for a 50% tax on banks' profits in 2024.

However, the Ministry of Finance and the NBU are against raising the income tax for banks to 50% as part of the bill on raising certain types of taxes.

At the same time, it is worth noting that during the reporting period, banks' interest income increased by 20%, and interest expenses - by 22%.

Commission income and expenses increased by 12% and 18%, respectively.

Among the revenues, the result from revaluation and from purchase and sale operations (growth was 36%), as well as the return of written-off assets (growth was 34%), grew the fastest.

As the Ukrainian News agency earlier reported, in the first half of the year, banks made a net profit of UAH 79.041 billion, which is a record for the corresponding period.