2024: Most profitable European banks

With the Significant Bank Database now covering the years from 2009–2024, we can take a closer look at the most profitable European banks in 2024. This is straightforward because the dataset includes a ready-made measure of profitability: return on assets (ROA).

A simple ranking of the ten most profitable European banks without excluding subsidiaries or overlapping ownership structures reveals a list dominated by banks domiciled in Eastern Europe. The only Western European bank in the top ten is the Italian online bank FinecoBank. Aside from this exception, all other top-ranking banks are based in various Eastern European countries. Note that the average ROA in 2024 is 0.96%. The most profitable banks therefore generate more than three times this level of profitability.

Many of these top-performing institutions are subsidiaries. It is therefore not surprising that the ranking changes once subsidiaries are removed. Even so, Eastern European banks continue to dominate. At the top of the adjusted list is Bulgaria’s DSK Bank, followed closely by Hungary’s OTP Bank.

In addition to FinecoBank, three other Western European banks appear in the revised top ten: Hellenic Bank (Cyprus), Caixa Geral de Depósitos (Portugal), and Landsbankinn (Iceland). Notably, Polish banks are well represented in the top ten.

The picture shifts again when profitability is measured relative to a bank’s capital, i.e., using return on equity (ROE). Unlock the full analysis and see which banks come out on top by subscribing today!