Ukrainian State Bank Chiefs' 2025 Pay: A Look at Bjorknert and Naumov's Earnings.

What the Heads of PrivatBank and Oschadbank Earn

According to Novyny.live: The monthly salaries for leaders of Ukraine's state-owned banks in 2025 range from 1.2 to 2 million hryvnias. Mikael Bjorknert, Chairman of the Board at PrivatBank, received a total of 24.2 million hryvnias for the year, while his counterpart at Oschadbank, Serhiy Naumov, earned 15.4 million hryvnias. These figures highlight the significant compensation packages for executives at Ukraine's largest financial institutions, which were nationalized following a major banking sector crisis.

Mikael Bjorknert's pre-tax income for 2025 was 24.2 million hryvnias. Over the year, he received 410,000 hryvnias in salary and 9.5 million hryvnias in other payments. After deductions, he paid 7.8 million hryvnias in taxes.

Serhiy Naumov earned an average of 1.3 million hryvnias per month, totaling 15.4 million hryvnias before tax. Naumov's compensation included 4.2 million hryvnias in bonuses and 184,000 hryvnias in other reimbursements. His total tax contribution for the year amounted to 4.7 million hryvnias.

Additional Context

By February 2026, the average salary in Ukraine had risen by 17% compared to 2025. The national average wage reached 27,500 hryvnias. Regional averages were higher in major cities: 32,500 hryvnias in the capital, Kyiv; 30,000 hryvnias in Lviv; and 27,500 hryvnias in Uzhhorod.

Consequently, the earnings of state bank executives vastly exceed the average citizen's income, sparking public debate. This disparity underscores a significant gap between the compensation of top management in state institutions and that of ordinary Ukrainians, which can affect public trust in financial institutions. Discussions around this inequality may lead to future reforms in remuneration policies within state-owned banks and other government entities.