State-owned Ukreximbank boosted its net profit by 26% in the first quarter of 2025 compared to the same period last year, reaching 2.4bn hryvnias ($59mn), according to its recently published financial results, reported Interfax-Ukraine.

The lender, Ukraine’s third most profitable bank for the quarter, said net interest income surged 42.5% year on year to 2.3bn hryvnias, while net commission income edged up 4.4% to 301.4mn hryvnias.

Total assets in January-March rose marginally by 0.3% to 292bn hryvnias, while liabilities fell 0.4% to 278.8bn hryvnias. Customer funds increased 1.3% to 247.3bn hryvnias, while bank funds declined 17% to 1.92bn hryvnias.

Equity jumped 17.6% to 13.3bn hryvnias during the period, reflecting stronger capital buffers.

“During the first three months of 2025, the bank exceeded the expected capital adequacy ratios set by the updated Capitalisation Programme and adhered to the minimum levels of prudential standards in accordance with the requirements of the NBU,” the bank said in a statement, referring to the National Bank of Ukraine.

Ukreximbank, formally the State Export-Import Bank of Ukraine, plays a key role in financing trade and infrastructure projects. Its results come as Ukraine’s banking sector continues to operate under wartime conditions, with profitability concentrated in the largest state-owned lenders.