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8.0 Financial & capital markets 8.1 Bank sector overview
The net interest income of Ukrainian banks for the first eight months of 2023 reached UAH 129.3bn, a notable increase of 40.8% compared to the same period in the previous year. Additionally, net commission income amounted to UAH 33.4bn ($900mn), marking a 14.1% rise.
One the whole, Ukraine’s bank sector has weathered the storm of the war well thanks to a comprehensive clean-up of the sector that was completed before the war broke out two years ago.
Indeed, the sector has been doing so well, the government imposed a special 50% profit tax on banks in 2023 to help fund the budget, but that will be reduced to 25% in 2024.
The NBU has not updated the banking sector statistics since November 2023.
69 UKRAINE Country Report February 2024 www.intellinews.com
