--- title: "2026 Banking Report: PrivatBank Maintains Leadership, but Tax Burden Reaches 50%" description: "Ukrainian banks earned 54 billion UAH in net profit in the first half of 2026. PrivatBank remains the leader, but the tax burden on the sector has doubled due to the return of the corporate income tax rate to 50%." date: 2026-08-19T09:52:04.000Z lang: en url: https://xab.info/en/posts/ukrainian-banks-profit-2026-privatbank-tax-en tags: [ukraine-economy, privatbank, banking-sector, nabu, taxation] publisher: "XAB.info" --- # 2026 Banking Report: PrivatBank Maintains Leadership, but Tax Burden Reaches 50% ![PrivatBank branch on the street: people walking past the entrance, green logo visible on facade — illustration for 2026 report on bank’s leadership despite high tax burden](https://xab.info/media/2026/08/19/ukrainian-banks-profit-2026-privatbank-tax/ukrainian-banks-profit-2026-privatbank-tax-1.webp) ## 🎯 Key Points - Net profit of Ukrainian banks for the first half of 2026 amounted to 54.07 billion UAH. - Tax burden increased to 54.5 billion UAH due to a 50% tax rate. - PrivatBank earned 24.56 billion UAH, capturing 45% of the profit market. - The 10 largest banks received 88% of the total banking system profit. The Ukrainian banking system demonstrated resilient profitability in the first half of 2026, despite a significant increase in fiscal pressure. According to official data from the National Bank of Ukraine, 59 active banks collectively generated 54.07 billion UAH in net profit. The state-owned PrivatBank remains the industry leader, although its financial result showed a decline compared to the same period last year. ### Growth in Tax Payments and Fiscal Burden A key feature of the financial report for the first half of 2026 was the sharp rise in bank expenses for corporate income tax. While banks transferred 21.99 billion UAH to the budget in the same period of 2025, this figure reached 54.5 billion UAH in the current year. Thus, the tax burden effectively doubled, accounting for more than half of the profit before tax. This surge is explained by a change in tax policy: in 2026, a temporary corporate income tax rate of 50% is applied to the banking sector again. This measure, previously in effect in 2023–2024, was temporarily reduced to 25% in 2025 but has returned to the higher level this year to support the state budget. ### Rating Leaders: Profit Monopolization The distribution of profit in the Ukrainian banking sector remains extremely uneven. The ten most profitable institutions account for 88% of the system's total net profit (47.68 billion UAH). The undisputed leader is PrivatBank, which earned 24.56 billion UAH in net profit, representing about 45% of the total result of all banks in the country. Second place was taken by Universal Bank (the main asset of Monobank) with 3.85 billion UAH, followed by Raiffeisen Bank with 3.57 billion UAH. Notably, the top 10 includes three state banks, five institutions with foreign capital, and two banks with private capital, indicating a high concentration of the market. ### Dynamics of State and Private Banks The state sector remains the main driver of system profitability. Five state banks accounted for 32.46 billion UAH in net profit (about 60% of the total figure). In addition to PrivatBank, the leaders of the state sector are Oschadbank (3.38 billion UAH) and Ukreximbank (2.24 billion UAH). However, it is worth noting that PrivatBank showed a decline in results compared to the first half of 2025, when its net profit was 34.88 billion UAH. Banks with foreign capital earned 11.91 billion UAH in net profit, which is 22% of the total figure. Of the 15 banks in this group, only two reported a loss: Pravex Bank and YUTE Bank. The sector of banks with private capital received 9.7 billion UAH, with about 72% of this amount provided by just two players — Universal Bank and PUMB. ### Changes in the Structure of the Banking System At the beginning of 2026, the market underwent significant structural changes. In February, the NBU declared Motor Bank and First Investment Bank insolvent. Motor Bank's license was revoked in April, initiating its liquidation procedure. Meanwhile, First Investment Bank was acquired by the European fintech company UAB ZEN.COM; after recapitalization, it resumed operations and moved to the category of banks with private capital. ### Contradictory Data While the current tax rate of 50% is a fact legislatively approved for 2026, there are discrepancies in long-term forecasts. The International Monetary Fund (IMF) has repeatedly called for the abolition of the increased tax on bank income after 2027, viewing it solely as a temporary measure. At the same time, the lack of official confirmation regarding the extension or cancellation of the rate for 2027 creates uncertainty for the long-term planning of the banking sector. ## 🔍 Fact-Check Verification - [Not Just Privat: Who Made It to the Top 10 Most Profitable Banks](https://www.rbc.ua/ukr/news/tilki-privat-hto-uviyshov-top-10-naypributkovishih-1787132672.html) - Источник подтверждает данные о прибыли ПриватБанка (24,56 млрд грн) и общую сумму чистой прибыли сектора. - [Most Profitable Ukrainian Banks Named: How Much Each Earned](https://delo.ua/ru/news/nazvany-samye-pribylnye-ukrainskie-banki-kto-skolko-zarabotal-470980/) - Дополнительное подтверждение рейтинга банков и данных о налоговых отчислениях. - [Lending Supports Bank Profitability for a Year and a Half: NBU Statistics Show](https://delo.ua/ru/news/kreditovanie-podderzivaet-doxodnost-bankov-poltora-goda-podryad-cto-pokazyvaet-statistika-nbu-470797/) - Дополнительное подтверждение рейтинга банков и данных о налоговых отчислениях. ## ❓ FAQ ### Q: How much net profit did Ukrainian banks earn in the first half of 2026? **A:** According to NBU data, the banking system received 54.07 billion UAH in net profit. ### Q: Why did bank tax expenses double? **A:** In 2026, the corporate income tax rate for banks was returned to 50%, whereas in 2025 it was 25%. ### Q: Which bank is the most profitable in Ukraine in 2026? **A:** The leader remains the state-owned PrivatBank with a net profit of 24.56 billion UAH.