The net profit of nationalized PrivatBank (Kyiv) in January-September 2018 amounted to UAH 5.356 billion, chairman of the board of the financial institution Peter Krumhansl has said.

"As you know, in September 2018 PrivatBank formed 100% of reserves for the debts of ten foreign borrowing companies, which arose before nationalization. The bank will use all possible methods to return its loan funds, but for now it has to cover losses of the previous periods in the amount of UAH 5.9 billion from profit for the current activities. Despite all, as of October 1, 2018 PrivatBank received a net profit of UAH 5.356 billion," he said in an interview with the Ekonomichna Pravda edition.

According to the board chairman, for the nine months of 2018, the net interest income of PrivatBank amounted to UAH 10.6 billion, while net commission income stood at UAH 11.7 billion.

"However, I can firmly promise you that by the end of 2018 PrivatBank will be one of the most profitable banks in the market," the banker said.

According to him, the bank will not need additional capitalization in the coming years.

The banker also said that several months ago he met with one of the Western European bankers, who said that investors are carefully monitoring the development of events in the Ukrainian banking market and are interested in participating in the privatization of one of the Ukrainian state banks.

"I think that the issue of PrivatBank privatization is more political. If the political and economic situation in the country is stable and predictable, foreign investors will be interested in Ukrainian banks."