Based on the report of the independent auditor, Oschad approved the final results for 2023: the bank's net profit amounted to UAH 6 billion

The Management Board and Supervisory Board of Oschad approved the final results for 2023 based on the audited financial statements and unqualified opinion. Based on the results of annual adjustments, the bank's financial result reached almost UAH 6 billion, a record level for the entire period of its operation. The final amount of profit exceeded the preliminary results of 2023, which were announced earlier, by more than UAH 1.2 billion. As a result, Oschadbank has risen to the second place in the rating of profitability of Ukrainian banking institutions (according to the NBU).

The past year 2023 was the eighth consecutive year during which the bank demonstrated profitable operations. The total profit of Oschadbank over the years amounted to about UAH 12 billion. After the losses of 2014-2015 caused by the loss of assets in the occupied Crimea and parts of Donetsk and Luhansk regions, Oschad achieved stable profitability within 2 years and continues to gradually improve its financial performance.

A thorough modernization after the Revolution of Dignity helped to maintain business profitability despite the pandemic and full-scale invasion. The Oschad team, which has been working since 2014, has transformed the shuttered savings bank into one of the leaders in the Ukrainian banking market, which has become a strong guarantee not only of record financial results but also of stable operation of the branch network and remote service channels during the great war.

In addition, the results of the first quarter of 2024 were summarized. Continuing the positive trend started last year, Oschad showed a significant improvement in its financial performance. Thus, the net profit for the first three months of 2024 amounted to UAH 4.9 billion; compared to the same period last year, it increased by UAH 2.3 billion, or 91%. This is largely due to a growth in operating income, which increased by UAH 0.9 billion, or 14%, as well as a positive result of the revaluation of indexed government bonds by UAH 1.2 billion. An additional factor in achieving a strong financial result is a balanced approach to optimizing operating expenses, an effective risk management policy and the formation of the active part of the balance sheet, taking into account the realities and needs of the wartime economy.