PrivatBank to transfer UAH 11.52 bln in dividends for 2018 to state budget
PrivatBank, Ukraine's largest state-owned bank in terms of assets, will pay dividends for 2018 to its shareholder, the state represented by the Ministry of Finance, in the amount of UAH 11.52 billion, which is 90% of net profit, the bank said on Thursday.
According to the bank's annual report confirmed by the auditing company E&Y, its net profit in 2018 amounted to UAH 12.846 billion, compared with UAH 0.406 billion a year earlier.
The report indicates that UAH 30.75 billion in interest income includes UAH 11.36 billion received from investment securities, the overwhelming majority of which are government bonds received by the bank as part of capitalization during its nationalization in December 2016. A year earlier, interest income from investment securities was UAH 10.72 billion from UAH 24.49 billion in the bank's total interest income.
PrivatBank's net assets at the beginning of 2019 were estimated at UAH 278.12 billion, liabilities were UAH 246.55 billion, and PrivatBank's capital was UAH 31.58 billion. Over the past year, its net assets increased by 9.6%, liabilities grew by 7.2%, and capital expanded by 33.2%.