State banks suffered a blow from profit adjustments: they must pay UAH 1.78 billion in additional taxes
The National Bank of Ukraine has published the final version of the banks’ balance sheets for 2024, which includes corrective accounting entries. These changes slightly reduced pre-tax profits by only 1% compared to previous figures. However, the fiscal burden for banks increased significantly: income tax increased by 15%, which reduced the net profit of the banking sector to UAH 90.9 billion. This is 12% or UAH 12.8 billion less than previously expected. About this informs The opendatabase.
Banks are forced to pay UAH 95.9 billion as a result of tax surcharges, which is 51% of their profit. For comparison: in 2023, this indicator was 48%, and a year earlier – only 25%. Thus, the taxation of banks’ profits in Ukraine has become record strict.
State banks were hit the hardest by adjusted tax surcharges. They bear 93% of the entire additional amount — that is UAH 11.78 billion. Oschadbank became the absolute leader in terms of tax growth, which after adjustment has to pay UAH 10.66 billion — 2.5 times more than previously declared. The growth amounted to UAH 6.36 billion. Ukreximbank also significantly added to the budget: its tax increased 15 times — by UAH 2.94 billion. The tax at Sens Bank (former Alfa-Bank) increased even more radically — 58 times, to UAH 1.97 billion.
Ukrgasbank became the only state-owned bank that managed to reduce its tax burden — its tax was reduced by UAH 455 million.
Foreign banks remained almost out of the focus of tax surcharges — they accounted for only UAH 118.57 million. Private banks received a total of 1.34 billion UAH in additions. The largest amounts are in A-Bank (UAH 541 million), Southern Bank (UAH 308 million) and MTB Bank (UAH 225 million).
The Ukrainian Bank for Reconstruction and Development became the absolute record holder in terms of tax growth rates: its tax liabilities increased 84 times — from 247,000 UAH to UAH 20.76 million.
As a result, the income tax of 22 banks increased by a total of UAH 12.7 billion. While at 12 banks, on the contrary, it decreased by UAH 513.4 million. At the same time, 88.8% of this decrease fell on Ukrgazbank. According to the results of the final adjustment, the tax liabilities of the banking sector exceeded its total net profit by UAH 5 billion.
As Opendatabot points out, this situation demonstrates not only fiscal pressure, but also a deep structural revaluation of banking revenues, which may have long-term consequences for the sustainability of the sector.
