Another record-breaking year for Oschadbank: loan growth, increased contributions to the state treasury, budget support through the government bonds mechanism

In 2024*, Oschadbank earned a record profit before tax of UAH 18.7 billion. Thus, the bank continued the trend of significant improvement of this indicator. While in 2022, Oschad's net profit before taxes amounted to UAH 0.6 billion, in 2023 it was about UAH 9.3 billion. Accordingly, last year's result was almost twice as high as in 2023.

It is expected that the amount of income tax and dividends that Oschadbank will pay to the state budget in 2024 will amount to UAH 12.2 billion (UAH 9.9 billion of income tax and UAH 2.3 billion of dividends). This is almost twice (or UAH 5.8 billion) more than the corresponding figures for 2023.

A significant increase in the efficiency of Oschadbank in 2024 was made possible by increasing the balance sheet currency while developing the business. This contributed to an increase in Oschad's net interest income by UAH 5.5 billion (+29% year-on-year). In addition, work with problem borrowers and other measures to resolve bad debts helped the bank to release provisions by UAH 2.3 billion.

In 2024, the volume of Oschadbank's net loan portfolio increased by UAH 22 billion (+25%) and exceeded UAH 111 billion. This was made possible by active lending to both businesses (+UAH 15.9 billion since the beginning of the year) and individuals (+UAH 6.1 billion).

Investments in government debt securities were an important area of Oschad's investments, with the portfolio growing by UAH 72.8 billion (in nominal terms), or 68% since the beginning of the year. Over the past year, the bank purchased UAH 120 billion of government bonds. Such activity led to an increase in the respective market share of Oschadbank from 16.3% to 20.3%, and the share in the growth of government bonds in the banking system reached 32%.

In 2024, Oschadbank's transfers to the state budget amounted to a record UAH 17.2 billion of taxes, fees and paid dividends, of which UAH 10.6 billion was income tax (including UAH 2.9 billion in 2023 and UAH 7.7 billion in 2024). This is three times more than the payments to the state budget in the year before last, 2023. In addition, this year, based on the results of 2024, the bank will additionally pay UAH 2.2 billion in income tax.

“A full-scale war requires the public sector of the economy to focus on improving efficiency and increasing financial results, as the state budget needs our taxes and dividends more than ever. I am pleased to note that in 2024, Oschadbank continued to improve its performance, which led to an increase in our support to the state. I assure you that in 2025, Oschad will continue to work hard to increase transfers to the country's defense budget. Our new strategic program approved by the Supervisory Board at the end of 2024 will certainly help us in this,” said Sergii Naumov, Chairman of the Management Board of Oschadbank.

^{*Hereinafter, the results are preliminary and are subject to confirmation by an external audit.}