PrivatBank was recognised to be the best bank of the year in the most prestigious world banks’ nomination according to The Banker magazine
Ukrainian PrivatBank has been ranked among the world leading banks given the ‘Bank of the Year 2012’ status. According to representatives of the authoritative British magazine The Banker, the expert committee of 'Bank of the Year Awards 2012' made this decision following the assessment of the bank’s performance for the nine-month period this year. The bank’s management received one of the most prestigious banking market awards - the bronze statuette of the founder of The Banker magazine Brendan Bracken, at a special ceremony held on November 28th in London.
The Banker experts note that recognition of PrivatBank as ‘The Bank of the Year’ once again became the next confirmation of its market development strategy’s success and the evidence of good asset quality and effective risk management. Innovative technology projects enhancedPrivatBank to increase the number of customer transactions by 57%. Household deposits attraction is another equally important advantage of this strategy. This steady source of funding will allow PrivatBank to take an active part in the development of the national economics.
Annually experts from the leading financial magazine The Banker (part of The Financial Times group) determine ‘The Bank of the Year’ among financial institutions from 150 countries. Over 530 banks all over the world struggled for this prestigious award this year. All banks were assessed by a group of criteria including both qualitative factors (profitability, asset quality and financial stability) and quantitative ones (large capital formation, M&A deals, implementation of new technologies, services or new lines of business).