The National Bank of Ukraine, the country’s central bank, supervises all banks in Ukraine. The Ukrainian central bank is also responsible for stabilizing the national currency. It implements state policy relating to the exchange rate, credit, money circulation, as well as the operations of other banks.
Moody’s Investors Service maintains a stable outlook on banks in Ukraine. The stable outlook is based on the country’s strengthened macroeconomic stability and moderate levels of government debt against ongoing governance challenges, improved, albeit still elevated, vulnerability to external shocks, and political risks.
For anyone considering a career in banking in Ukraine, this list of the top banks in Ukraine is a helpful guide on where to start. To learn more, see our list of financial institutions.
The Top Banks in Ukraine are:
Founded in 1992, PrivatBank is the largest of the commercial banks in Ukraine in terms of assets, the number of clients, loan portfolio, and taxes paid to the national budget. It is also one of the first privately owned commercial banks in the country and the first bank to issue debit cards and install ATMs.
PrivatBank was nationalized by the government in 2016 to protect its 20 million customers and maintain financial stability. Headquartered in Dnipro, it provides banking products and services through 2,240 branches in the country and employs around 22,000 people.
Net income: UAH 24.56 billion (2020)
Total assets: UAH 382.64 billion (2020)
Also called the State Savings Bank of Ukraine, Oschadbank was established in 1991 by the government of Ukraine. It provides a range of banking products and services through 3,650 branches utilizing a workforce of over 38,000 employees.
The bank was classified as a Systemically Important Bank in 2015 by the National Bank of Ukraine. The classification is given to a bank or financial institution whose failure may lead to a financial crisis. Oschadbank is based in Kyiv.
Net income: UAH 2.78 billion (2020)
Total assets: UAH 233.60 billion (2020)
Headquartered in Kyiv, state-owned Ukreximbank was established in 1992. It was also called the State Import-Export Bank of Ukraine and was classified as a Systemically Important Bank by the National Bank of Ukraine. It plays a major role in the country’s financial sector, providing and borrowing loans from foreign financial banking organizations. The bank manages 22 branches, 38 operating outlets and employs around 3,125 staff.
Net income: UAH -5.59 billion (2020)
Total assets: UAH 189.63 billion (3/2021)
Raiffeisen Bank Aval
Commercial bank Raiffeisen Bank Aval provides retail banking services to individuals and organizations through more than 5 branches and 499 outlets in Ukraine. In 2006, it became a subsidiary of Austrian Raiffeisen Bank International. In 2008, Raiffeisen Bank was recognized as Ukraine’s best company in the financial and banking sector by Euromoney, a UK-based magazine.
Net income: UAH 4.11 billion (2020)
Total assets: UAH 107.36 billion (2020)
With a network of 278 branches, UkrGasBank offers a range of banking products and services to about 220,000 individuals and businesses in Ukraine. The bank operates through five segments – legal entities (corporate banking), clients of small and medium-sized enterprises, individuals (retail banking), financial institutions, and asset management.
Founded in 1993, UkrGasBank is headquartered in Kyiv and employs over 5,000 individuals.
Net income: UAH 411.04 million (2020)
Total assets: UAH 130.73 billion (3/2021)
Sberbank provides a range of banking and financial services, operating in several European and post-Soviet countries. The bank was called Sberbank of Russia until 2015, and in 2014, it was considered the largest bank in Russia and Eastern Europe. It also got the 33rd spot in the Top 1000 World Banks of The Banker, the first bank in central and Eastern Europe to be ranked on the list. Its headquarters are in Moscow.
UkrSibbank offers corporate, retail, and consumer finance products and services to individuals and organizations through over 700 branches within the country. Founded in 1990, it operated as a Kharkiv regional bank that served large corporate customers until 1992. It expanded into other regions of Ukraine in 1996. In 2005, BNP Paribas, one of the largest financial groups in the world, signed a share purchase agreement for a 51% stake in the bank.
The commercial bank serves 4,000 large companies, 255,000 SMEs, and more than two million clients. With over 1,500 ATMs, it operates the third-biggest network among banks in Ukraine.
Net income: UAH 1.32 billion (2020)
Total assets: UAH 66.79 billion (3/2021)
First Ukrainian International Bank
Founded in 1991 with headquarters in Kiev, First Ukrainian International Bank provides banking and financial services to about 2.5 million clients. It is one of the largest banks in Ukraine in terms of assets, and one of the top five on deposits. It was the first bank in the country to institute IFRS financial reporting and one of the first to attain a credit rating from Fitch, an international credit rating agency.
Net income: UAH 2.61 billion (2020)
Total assets: UAH 84.88 billion (3/2021)
Alfa-Bank JSC is one of Ukraine’s largest private commercial banks. The bank was founded in 1990 with headquarters in Moscow. In October 2019 Alpha merged with Ukrsotsbank. It maintains a strong presence in Ukraine where it is one of the largest banks in Ukraine in terms of capital and employs around 7,835 individuals.
The bank provides financial and investment services to more than 381,600 corporate customers and 14.2 million retail clients through its 723 offices in seven countries.