Best bank 2025: JSC PrivatBank
JSC PrivatBank has been distinguished as Ukraine’s best bank due to its robust performance and pivotal contributions to financial innovation and accessibility in 2024.
The bank’s loan portfolio demonstrated significant growth, increasing by Hrn20.7 billion ($495 million) to exceed Hrn113 billion. PrivatBank’s net profit saw a 6% increase, rising to Hrn40.1 billion. This financial growth aligns with its substantial increase in corporate tax contributions, which escalated from Hrn35 billion in 2023 to Hrn40.9 billion in 2024, underscoring the bank’s crucial role in supporting the national economy.
Further cementing its reputation for pioneering digital financial solutions, PrivatBank launched several initiatives aimed at enhancing customer experience and operational efficiency. These include the Envelop digital card, designed to facilitate user-centric fundraising and budgeting.
Additionally, the introduction of the Pryvit loyalty programme, which leverages machine learning, represents a significant stride towards personalising customer engagement.
The bank’s commitment to improving service accessibility and reducing operational costs for businesses is evident through the rollout of the Terminal app in 2024. This app simplifies the acquiring process for businesses and has been engineered to reduce transaction costs effectively. Moreover, in a bid to expand inclusivity, PrivatBank inaugurated 10 new branches specifically designed to be accessible, and it introduced sign language video consultations via its Privat24 platform, ensuring banking inclusivity for hearing-impaired clients.
Overall, JSC PrivatBank’s approach to embracing technology and enhancing financial accessibility distinctly positions it as Ukraine’s leading banking institution for 2025.
Best digital bank 2025: Raiffeisenbank
Raiffeisenbank unequivocally set the standard in the Ukrainian digital banking sector in 2024, exemplifying its industry leadership on several fronts. This strong performance underpinned its nomination as Ukraine’s best digital bank.
In 2024, the bank’s MyRaif mobile application witnessed an unprecedented user growth, ballooning nearly fivefold to reach 860,000 users. This surge in adoption underscored the app’s reliability and efficiency, with the platform processing 30 billion digital transactions through the year. This metric not only highlights the app’s wide acceptance but also its robust infrastructure designed to handle a high volume of transactions seamlessly.
Significantly enhancing client experiences, Raiffeisenbank successfully migrated all corporate and business banking clients to its Raiffeisen Business Online platform in the same year.
The bank’s innovation trajectory continued by leveraging advanced technological integrations. This includes the expansion of lending eligibility criteria to incorporate behavioural data, thus offering more personalised financial services. Further fostering accessibility, the bank enabled remote account openings facilitated through the government’s Diia app or by video verification processes.
Additional advancements in 2024 included the integration of safety features such as 3D Secure and Face Liveness Detection in the MyRaif app, alongside real-time customer support through chat functions. The institution also endorsed local products by offering 10% cashback on Ukrainian-made goods, promoting national products while benefiting its customers financially.
Further embedding efficiency, Raiffeisenbank incorporated machine learning to carry out tax-compliance checks in salary payments automatically and executed real-time payment processing, showcasing its continued commitment to leveraging technology to streamline operations and enhance user experience. These comprehensive developments and innovations substantiate Raiffeisenbank’s leadership in the digital financial services arena within Ukraine.
Best bank for large corporates 2025: Ukreximbank
Ukreximbank has demonstrated exceptional growth and innovation in 2024, making it a standout contender for Ukraine’s best bank for large corporates.
The bank’s pre-tax profit saw a significant increase of 20.1% to Hrn5.9 billion ($141 million), and its equity improved to Hrn11.37 billion. These financial enhancements have notably bolstered Ukreximbank’s capacity to serve large corporate clients effectively.
In a strategic move to support large private enterprises within Ukraine, particularly in strategic sectors, Ukreximbank secured a €20 million ($23.4 million) risk-sharing instrument from the European Bank for Reconstruction and Development in December 2024. This initiative is particularly notable for its relaxed collateral terms, which directly addresses the typical hurdles faced by large corporates in securing financing.
Technological advancements have also been at the forefront of Ukreximbank’s strategy. The bank achieved full automation of its lending processes for legal entities and SMEs through the implementation of the Credit Factory project in 2024. This automation has significantly improved operational efficiency and reduced processing times.
Additionally, the bank has embraced Swift GPI technology, enabling legal entities to make international payments that reach the recipient within 60 minutes, thus enhancing its cross-border transaction capabilities.
Further strengthening its client relations, Ukreximbank introduced a new client-oriented corporate banking model and launched the Exim Talks initiative in 2024. This platform is designed to deepen engagement with large corporate clients, providing a tailored and strategic approach to corporate banking that aligns with client needs and market demands.
These focused efforts combine to position Ukreximbank as a leading institution prepared to drive and support large corporate ventures within Ukraine through innovative financial solutions and client-centric initiatives.
Best bank for corporate responsibility 2025: ICU
ICU has distinguished itself as a leader in corporate responsibility in Ukraine through substantial philanthropic investments and dedicated support for economic resilience and community engagement.
In the realm of educational support, ICU’s considerable donation of $1.3 million to the Kyiv School of Economics has facilitated crucial projects. Notably, in 2024 alone, $240,000 was allocated towards enhancing student facilities and constructing modern bomb shelters that ensure student safety in volatile conditions. ICU has creatively supported educational environments across the region, broadening its impact beyond a single institution.
In terms of philanthropic contributions, ICU has shown its commitment to national recovery efforts by donating $250,000 each to two pivotal projects: the restoration of the Mykhailo-Kotsiubynsky School and the reconstruction initiatives following the Kakhovka hydroelectric power station attack. These contributions are part of a broader $2.23 million commitment in 2024 directed towards projects including Kakhovka relief, shelters and medical transportation.
However, it is noteworthy that there was a 37% decrease in the financing to these types of projects compared to previous years, indicating a strategic pivot from emergency relief to more sustainable, long-term recovery initiatives.
On the economic front, ICU has proven its dedication to Ukraine’s resilience by enhancing its corporate governance and pioneering the opening of the local government bond market to a broader spectrum of investors. This initiative not only aids in financing national budget and defence strategies but also promotes economic inclusivity.
Furthermore, ICU fosters a culture of giving back to the community through various charity initiatives and employee contributions. Every employee is engaged in personally supporting verified charity projects. This collective effort has earned ICU recognition as the fourth highest corporate donor in Ukraine, underscoring its commitment to humanitarian aid in 2024.
Through these multifaceted efforts, ICU evidently stands out in its contribution towards building a more resilient and supportive community in Ukraine.
Best bank for research 2025: ICU
ICU has distinguished itself as Ukraine’s best for research through a series of robust initiatives and impressive achievements in media presence and technological resilience in 2024.
Its team of analysts garnered significant recognition, being referenced over 4,000 times in traditional media, achieving a substantial potential reach of 10.75 million with an impressive 23.96% share of voice. This extensive media coverage underscores ICU’s authoritative presence in the financial research sector.
Adding to its accolades, ICU implemented advanced technological solutions to ensure the continuity of its research output amid challenging conditions. The deployment of Starlink and EcoFlow technologies, along with Bloomberg terminals, empowered researchers to produce uninterrupted, timely financial insights despite blackouts and regional instabilities. This commitment to maintaining operational integrity during crises highlights ICU’s dedication to resilience and innovation.
Enhancements to its research tools in 2024 further demonstrate ICU’s forward-thinking approach. ICU also significantly expanded its engagement with investors and the public through the consistent publication of weekly reviews, macroeconomic reports and bond market updates.
It leveraged digital platforms effectively, achieving 41,672 million impressions on LinkedIn and a 69% increase in YouTube views in 2024, largely driven by compelling economic forecast content. These initiatives have not only broadened ICU’s audience reach but also strengthened its position as a leader in financial research within Ukraine.
