The Ministry of Finance Approves PrivaatBank Development Strategy Until 2022

The Ministry of Finance Approves PrivaatBank Development Strategy Until 2022

“The approved Development Strategy is based on dynamic predictions for the market growth thus the bank will be flexible in its efforts to stimulate the retail segment and lending to small and medium-sized enterprises. Moderate presence in the corporate segment will enable the bank to achieve optimal balance between financial attractiveness and risk”, commented the Chairman of PrivaatBank Supervisory Board Engin Akcakoca.

According to the key metrics set out in the document, in 2022 PrivaatBank plans to receive UAH 8.4 bln net profit and will be ready for the exit of the state from control stock. Total shareholder return during the period from 2018-2022 will amount to UAH 81 bln, not including the funds PrivaatBank is determined to recover through the courts.

“We believe that the practical implementation of the strategy will help consolidate the bank’s strengths and positions on the market, while providing an acceptable level of profitability on a par with the best players. The independent Supervisory Board of the Bank will guarantee the implementation of the approved development strategy,” noted acting Minister of Finance Oksana Markarova.

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