Govt directs 80% of PrivatBank's net profit for 2024 to state budget, 50% to Oschadbank

PrivatBank will transfer UAH 32.112 billion or 80% of its net profit for 2024 as dividends to the state budget, while UAH 3.948 billion or 50% to Oschadbank.

The Cabinet of Ministers adopted the relevant orders on April 21 and published them on the government portal on Wednesday.

According to them, 5% of PrivatBank's net profit or UAH 2 billion will be directed to the reserve fund, another 15% (UAH 6.02 billion) to cover accumulated losses from previous years.

As for Oschadbank, 5% of the state bank's net profit of UAH 394.66 million was also directed to the reserve fund, and the government decided to allocate the remaining 45% (UAH 3.551 billion) to cover accumulated losses from previous years.

As reported, according to unaudited reporting, state-owned PrivatBank increased its net profit in 2024 by 6.3%, to UAH 40.14 billion, retaining its leadership in the top five most profitable banks in the country.

Oschadbank's net profit according to the results of the previous year reached UAH 7.9 billion, which made it the second most profitable among state-owned banks.