July 30th 2018

PrivatBank completed the first 6 months with UAH 6.9 bn profit

Based on the performance during the first 6 months of 2018, PrivatBank’s net profit amounts at UAH 6.926 bn. According to Petr Krumphanzl, PrivatBank’s CEO, implementation of the development strategy focused on 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 PrivatBank 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, PrivatBank’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 PrivatBank’s Development Strategy approved by the Finance Ministry, in 2022 PrivatBank 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 PrivatBank intends to recover through courts.

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