Lending remains one of the key sources of profitability of Ukrainian banks: the sector has been growing operating profit for six consecutive quarters, despite the increase in reserve costs. At the same time, due to the increased income tax rate, the net financial result of banks for the first half of 2026 significantly decreased.
As written Delo.ua, the National Bank of Ukraine reported.
In the first half of the year, banks' operating profit before deductions to reserves increased by 12.3% compared to the same period in 2025. At the same time, the net profit of the sector decreased by 32% — up to UAH 54 billion.
The reason for this drop was primarily a significant tax burden: banks pay income tax at an increased rate 50%.
Lending remains the main driver
The main support for banks' profitability is provided by lending. The increase in the volume of loans and their profitability allowed banks to maintain a high return on assets.
The net interest margin of banks for the first half of the year was 7.8%. At the same time, net interest income increased by 20% compared to the first half of last year.
That is, banks earn more and more precisely on the difference between income from lending and costs for attracting funds.
Commission income is also growing
Commissions for banking services remain another source of income. In the first six months of the year, the net commission income of banks increased by 6.5%.
The main factor of such growth was payment operations — transfers, card payments and other banking services.
At the same time, the ratio of operating expenses to operating income (CIR) was 41.5%, which characterizes the efficiency of the banking sector.
Banks have increased deductions to reserves
At the same time, the costs of banks to cover potential credit risks are also increasing.
For the first half of 2026 deductions to reserves increased by 2.6 times and have effectively returned to pre-full-scale war levels.
This means that banks pledge more funds to cover possible losses on loans. At the same time, sufficient operating profit allows them to make such deductions without losing financial stability.
The tax significantly reduces the net profit
Despite the growth of operating indicators, the high tax significantly affects the bottom line of banks.
In the first half of the year, the sector's net profit amounted to UAH 54 billion — 32% less than a year earlier.
For comparison, for the entire year of 2025, Ukrainian banks received UAH 126.5 billion in net profit, and the accrued income tax was UAH 84.8 billion.
At the same time, the obtained profit remains an important source of capital replenishment of banks. This, in turn, allows them to retain the opportunity and continue to increase lending to businesses and the population.
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