PrivatBank sees net profit rise by more than 5 times in nine months
Nationalized PrivatBank (Kyiv) in January-September 2019 saw net profit rise to UAH 27.4 billion from UAH 5.093 billion for the same period in 2018, which became a new absolute figure for the bank and the entire banking system of Ukraine, according to a press release from the bank.
According to the bank, its net commission income for the nine months amounted to UAH 13.3 billion, net interest income some UAH 14.7 billion.
As reported, the net profit of PrivatBank (Kyiv) in January-June 2019 amounted to UAH 18.3 billion, which is 2.7 times more compared to the corresponding period of 2018 (UAH 6.9 billion).
Net interest income for the six months amounted to UAH 9.8 billion, net commission income some UAH 8.5 billion.
The government of Ukraine on December 18, 2016, referring to the proposal of the NBU and the former shareholders of PrivatBank, the largest of whom at that time were Ihor Kolomoisky and Hennadiy Boholiubov, decided to nationalize this largest financial institution in the Ukrainian market and invested over UAH 155 billion in its capital.
PrivatBank ranked first among 76 banks operating in the country as of July 1, 2019 in terms of total assets (UAH 522.422 billion), according to the National Bank of Ukraine.