Kyiv Business Intel

PrivatBank, Ukraine's largest bank by assets and retail deposits, reported net profit of UAH 18.6 billion (approximately $422 million) in the first quarter of 2026. The result represents a 28% increase from UAH 14.5 billion in Q1 2025. The bank attributed the growth to expanded net interest margin, sustained retail deposit inflows, and controlled operating costs. PrivatBank's retail deposit base grew to UAH 670 billion as of 31 March 2026, an increase of 14% year-on-year. The bank's net interest margin — the difference between lending rates and deposit funding costs — widened to 9.4% from 8.7% in the same period of 2025, reflecting the NBU's sustained 13.5% benchmark rate environment. ## State ownership PrivatBank remains state-owned following its nationalization in December 2016. The Ukrainian government has indicated it intends to return PrivatBank to private ownership as part of its post-war privatization agenda, but has set no firm timeline. The IMF and World Bank have each noted that PrivatBank privatization is among the structural benchmarks under review for future program tranches.