Ukraine’s state-owned PrivatBank reported a 13.8% year-on-year rise in net profit in the first half of 2025, reaching 34.8bn hryvnias ($854mn), equivalent to almost 45% of the entire banking sector’s financial result, data from the National Bank of Ukraine (NBU) showed, reported Interfax-Ukraine.

PrivatBank, the country’s largest lender by assets, was followed by another state-owned bank, Oschadbank, which booked 8.27bn hryvnias in net profit, down 6.2% from a year earlier. Austria’s Raiffeisen Bank ranked third with 4.74bn hryvnias, up 9.9% year-on-year.

The top five also included state-owned Ukreximbank with 4.22bn hryvnias, and First Ukrainian International Bank (FUIB) with 3.57bn hryvnias, both recording slight declines.

UkrSibbank’s profit slumped 22.5% to 2.65bn hryvnias, putting it in sixth place, while OTP Bank edged into seventh with 2.61bn hryvnias after a modest 1.1% decline. Credit Agricole Bank fell to eighth with a 30.3% drop, followed by Universal Bank, the operator of mobile-only mono, which earned 2.41bn hryvnias, and state-owned Ukrgasbank, down 33.6% at 2.19bn hryvnias.

Other banks crossing thebn-hryvnia mark included Citibank (2.07bn, down 5.7%), state-owned Sense Bank (1.9bn, down 16.6%) and Pivdenny (1.2bn, down 5.2%).

Of 60 banks in Ukraine, 13 reported losses. RwS Bank posted the steepest decline with a loss of 130.8mn hryvnias compared with a 10.5mn profit a year earlier, as its assets shrank nearly 49% to 2.39bn hryvnias. Alliance Bank recorded a loss of 84.1mn, reversing a profit last year, while Pravex Bank cut its losses to 37.5mn, about half the level of the same period in 2024.

The data highlight the continued dominance of state-owned lenders in Ukraine’s wartime economy, with PrivatBank’s performance underpinning the stability of the sector despite uneven results across foreign and private banks.