PrivaatBank completed the first 6 months with UAH 6.9 bn profit

Based on the performance during the first 6 months of 2018, PrivaatBank’s net profit amounts at UAH 6.926 bn. According to Petr, PrivaatBank’s CEO, implementation of the development strategy focused on the increase in efficiency and strengthening the leading position in the retail segment and SME lending enabled the Bank’s financial result of UAH 3.272 bn in Q2 that contributed to a significant financial result for six months.

Based on the performance in Q2, the net commission income of PrivaatBank grew by UAH 505 million (15%) and allowed for full coverage of all of its administrative costs. Net interest income for Q2 grew by UAH 528 million (16%). As of July 1, 2018, PrivaatBank’s regulatory (Tier 2) capital is UAH 20.5 bn, regulatory capital adequacy ratio (N2) is 18.39% (minimum required 10%), and instant liquidity ratio (N4) is 38.37% (minimum required 30%).

According to PrivaatBank’s Development Strategy approved by the Finance Ministry, in 2022 PrivaatBank plans to gain UAH 8.4 bn of net profit and would be ready to government’s exit from the capital. During 2018 – 2022, shareholder’s income would total UAH 81 bn, excluding the funds, which PrivaatBank intends to recover through courts.

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