Oschadbank increased its operating income by 10.5% over the past seven months – to UAH 24.2 billion

For the period of January–July 2026, Oschadbank received a net profit of UAH 3.4 billion. Operating income increased by UAH 2.3 billion, or by 10.5%, to UAH 24.2 billion, which confirms the resilience of the bank’s business model and its ability to grow revenues amid a full-scale war.

The key driver of this result was net interest income before provisions, which increased by 12.5% - to UAH 19.5 billion. Oschadbank’s interest income grew by 15.6% and reached UAH 35.3 billion. The growth was provided by all key areas: income from corporate lending increased by 10.7%, from retail lending by 30.0%, and from securities trading by 16.1%.

Fee and commission income rose by 13.2% - to UAH 9.1 billion, trading income increased by 17.4%, and other income by 26.4%. Taken together, this enabled the bank to continue the positive dynamics of growing operating income for the fourth consecutive year.

Operating expenses amounted to UAH 14.4 billion. Their 28.7% increase is primarily attributable to ensuring Oschadbank’s continuous and stable operations during the war, in particular by maintaining its workforce, infrastructure and operational capacity.

Despite significant wartime pressure on costs, the bank generated an operating profit of UAH 9.8 billion. It is only 8.5% less than the extremely high result for the corresponding period in 2025.

The main reason for the change in profit compared with last year was the mixed dynamics of provisions. Over the first seven months of 2025, the release of provisions had a positive impact on the financial result amounting to UAH 3.65 billion. A significant portion of this figure – nearly UAH 3.2 billion – was due to a one-off effect linked to the inclusion of Gulliver commercial and office complex onto the bank’s balance sheet.

In 2026, by contrast, Oschadbank set aside UAH 2.3 billion in provisions, taking into account increased credit risks due to the destruction of collateral and the negative impact of the war on customers’ operations. As a result, the annual change in provisions amounted to nearly UAH 5.9 billion, driven solely by the one-off release of provisions and the necessary coverage for war-related risks.

Oschadbank’s pre-tax profit for the first seven months of 2026 stands at UAH 7.7 billion. At the same time, income tax expenses rose by 78.6% - to UAH 4.2 billion, which is almost 1.8 times the figure for the same period last year. Thus, the increased tax burden was the second key factor influencing the dynamics in net profit.

Over 90% of the year-on-year change in net profit is attributable to the combined impact of provisions and tax expenses, rather than a decline in revenue from core operations.

“Oschadbank’s operating profit for the first seven months of 2026 is 5% above the target and stands at UAH 9.8 billion. However, taking into account the impact of war-related factors due to the significant build-up of provisions, as well as the increase in the corporation tax rate, net profit amounts to UAH 3.45 billion. “This financial result confirms the bank’s ability to operate stably, support its clients and play an important role in Ukraine’s economy even amidst a protracted war,” emphasised Yurii Katsion, Chairman of the Management Board of Oschadbank.

Oschadbank continues to increase its core operating income, maintains a significant margin of operational profitability and consistently adheres to a balanced risk management policy.