April 27th 2018

The Supervisory Board of PrivatBank approved the Annual Report and the Bank's Development Strategy until 2022

On April 27 the Supervisory Board of PJSC CB PrivatBank approved the Bank's Development Strategy for the period until 2022, which provides for a balanced development of the bank with a focus on the retail segment and SME lending and selectively corporate segment, as well as preparing the bank for sale to foreign investors.

As noted in the PrivatBank Strategy, the growth of lending, lowering the cost of liabilities and normalizing the cost of risk are the main levers for achieving profitability of the bank since 2018. According to the adopted document, the loan portfolio of PrivatBank will increase with a moderate growth in lending over the next two years. The bank should become profitable already in 2018 and generate at least UAH 8 billion in profits from 2020.

Also, the Supervisory Board of PrivatBank approved the reports of the bank's management on the results of its work in 2017 and the annual accounts of the bank, having considered the report of the independent auditor on the financial statements of the bank, which is conducted by the auditors of Ernst & Young.

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