18:32 27.07.2018

PrivatBank posts UAH 6.9 bln net profit in H1, 2018

2 min read
PrivatBank posts UAH 6.9 bln net profit in H1, 2018

PrivatBank (Kyiv) in January-June 2018 received UAH 6.926 billion of net profit against UAH 2.908 billion of net loss for the same period of 2017.

According to a press release of PrivatBank, its net interest income increased by UAH 528 million, or 16%, net commission income by UAH 505 million, or 15%.

Other figures are not specified.

The regulatory capital of PrivatBank as of July 1, 2018 was UAH 20.5 billion, the regulatory capital adequacy ratio was 18.39% (with the norm being at least 10%), instant liquidity stood at 38.37% (with the norm of not less than 30%).

"The implementation of the development strategy aimed at increasing the efficiency of work and strengthening the leading positions in the retail segment and lending to small and medium-sized businesses allowed the bank in the second quarter to obtain a financial result of UAH 3.272 billion, ensuring a significant financial result for the first half of the year," bank board chairman Peter Krumhansl said.

PrivatBank also noted that according to the development strategy, approved by the Ministry of Finance, in 2022 the financial institution will receive UAH 8.4 billion of net profit and will be ready for the state to withdraw from the capital.

The total income for the shareholder in the period from 2018 to 2022 will be UAH 81 billion, without taking into account the funds PrivatBank intends to return through courts.

PrivatBank ranked first among the total number of banks operating in the country as of June 1, 2018 in terms of net assets (UAH 258.376 billion), according to the National Bank of Ukraine.

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