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8.1.1 Earnings
Bank profits fell by 27% through November to $1.5bn, reports the National Bank of Ukraine. Of Ukraine’s 73 banks, 11 reported losses and 62 reported profits. The leader was state-owned PrivatBank, the nation’s largest bank with 23mn clients, at a net profit last year of $886mn. State-owned Oschadbank came in second, with $172mn in net profit. Two privately owned banks followed: Austria’s Raiffeisen Bank Aval, with $133mn in net profit, and First Ukrainian International Bank, owned by Rinat Akhmetov, with a net profit of $89mn.
48 UKRAINE Country Report February 2021 www.intellinews.com