The article is devoted to the broadly understood issue of the effectiveness of banks. The study focuses on financial changes that took place in the banking sector of Ukraine in the period 2013-2018. The article presents the results of the analysis of changes in financial ratios used in the study of the financial effectiveness of banks. Therefore, the analyses included such values as the average of selected indicators, minimum, maximum, as well as references to the values of indicators in selected countries of Central and Eastern Europe and the European Union. The authors also thoroughly interpreted the changes in the value of indicators from the point of view of the effectiveness of individual analysed objects. The analyses presented in this article constitute the first stage of research on the financial effectiveness of banks in Ukraine. The research hypothesis adopted in the conducted research: The difficult political and economic situation in Ukraine was not without an impact on the condition of the banking sector. The article uses a critical analysis of the literature on the subject and indicator analysis as the research method. There was also conducted a comparative analysis of changes in the size of selected financial performance indicators over the years 2013-2018.