Corporate governance

Principles of corporate governance

Bank carries out its activities with due account for the commercial interests of its clients and contributes to economic development and the strengthening of the financial system.

Bank is guided by the laws of Ukraine, meeting the requirements of the NBU regulations, it applies uniform accounting rules in the banks on the basis of integrated automation and computerization, submits to the NBU statements and information to the extent and in the form established. Bank adheres to prudential standards established by the NBU.

Bank guarantees to all its shareholders enforcement of their rights to the extent permitted by the legislation of Ukraine.

Corporate governance system

Governing bodies:

  • General Meeting of Shareholders (the supreme governing body of the Bank).
  • Supervisory Board of the Bank is elected by the general meeting of shareholders from shareholders or their representatives.
  • Management Board of the Bank is an executive body of the Bank, which supervises its current activity.

Controlling bodies:

  • Audit Committee oversees the financial and economic activities of the Bank's branches and representative offices.
  • Internal audit service is an independent structural division of the Bank, which is the body of operational control of the Supervisory Board.

Financial discipline

Bank's activities are subject to review by audit firms authorized in accordance with the law to carry out such inspections. Financial statements, which are submitted to the NBU, are annually reviewed by the auditor, which has been certified by the NBU to audit banking institutions.

Bank relationships with local governance and controlling authorities, law enforcement and tax authorities are carried out in accordance with the current legislation of Ukraine.

Integrity

In its activities, the Bank takes into account the interests and contributes to the prevention of conflicts between stakeholders: shareholders, directors, investors, staff and clients of the bank, as well as dialogue and open discussion between the Management Board and the Supervisory Board of the bank.

The organizational structure of the Bank includes all necessary forms of control to build an effective and coherent mechanism: by shareholders, the Supervisory Board, the Management Board and the Audit Committee, the Internal Audit Service over the various activities of the Bank. Separation of powers, competences and subordination of governing bodies, as well as the principles of their cooperation, are enshrined in the Articles of Association of the Bank and the regulations on the governing bodies.

More detailed information about the basics of the activities of Bank governing bodies can be found on the website n the chapters dedicated to relevant bodies.

In their work, members of the Bank's governing bodies try to avoid conflicts of interest.

In the event of a potential conflict of interest, presence of economic or financial interest in the transaction, directors of the Bank shall promptly notify the Supervisory Board.

Decisions regarding transactions with related parties are the responsibility of the Supervisory Board of the Bank, which ensures market conditions for such operations.

Bank operates in accordance with the highest standards of professional conduct, which are enshrined in the Code of Conduct, which is available on the website.

Information disclosure

In compliance with the laws in force, PrivatBank guarantees the confidentiality of information related to operations, accounts, and deposits of its clients and correspondents. All bank officers must protect bank confidentiality.

PrivatBank publishes its quarterly balance sheets and profit and loss statement on the official web-site within the month following the accounting quarter.

PrivatBank publishes its audited annual financial statements on its official web-site no later than 1st of June of the year following the accounting year.

PrivatBank’s accounting year begins on the 1st of January and ends on the 31st of December.Comprehensive information sources about activities carried out by PrivatBank are available on its web-site and via annual financial statements. Other information on our web-site:


Annual reports

Details of Annual General Meetings of shareholders

PrivatBank’s Articles of Association and bylaws.

Time and order of payment of dividends are defined in the Statute of PJSC CB "PRIVATBANK"

Bank's income is derived from proceeds from banking activities after coverage of interest, tangible and similar costs, labour costs, as well as payment of taxes envisaged by the legislation of Ukraine, and other payments to the budget. Net income received after the mentioned settlement is in full possession of the Bank.

The order of distribution of the net profit and loss is determined by the highest body of the Bank in accordance with its Articles of Association and the applicable laws of Ukraine.

Dividends are paid to shareholders from net profit of the Bank in proportion to the total number of shares they hold. Dividends are paid from the net profit in the reporting year and / or retained earnings in the amount established by resolution of the General Meeting of the Bank, within a period not exceeding six months from the resolution on payment of dividends adopted by the General Meeting of the Bank.

For each payment of dividends the Supervisory Board of the Bank sets the date when the list of persons entitled to receive dividends will be formed, the procedure and terms of such dividends’ payment. Date when the list of persons entitled to receive dividends is prepared shall not precede the date of the resolution on payment of dividends. The list of persons entitled to receive dividends shall be made in accordance with the laws on the depository system of Ukraine.

Bank shall notify the persons entitled to receive dividends of the date, the amount, procedure and terms of payment by sending simple letters by post. Within 10 days after decision on payment of dividends, the Bank shall notify the stock exchanges, where the Bank is registered, of the date, the amount and terms of paying dividends.

In the event the shareholder disposes of his shares in the shareholder after the date of preparation of the list of persons entitled to receive dividends, but before the date of the payment of dividends, the right to receive dividends shall be retained by the person specified in this list.

2016

In accordance with the Statement of profit or loss and other comprehensive income in accordance with International Financial Reporting Standards (IFRS), the profit of PJSC CB "PRIVATBANK" for 2015 amounts to UAH 238 402 000.00.

The decision of General Meeting of Shareholders of the Bank dd. 26.08.2016 sets the distribution order of profit of PJSC CB "PRIVATBANK" received in 2015:

- UAH 11 920 100.00 that is 5,00% of net profit for 2015 according to IFRS, directed to replenish the reserve capital of PJSC CB "PRIVATBANK";

- UAH 2 384 020.00 that is 1,00% of net profit for 2015 according to IFRS, directed to form general reserves of PJSC CB "PRIVATBANK";

- UAH 8 496 553.60 that is 3,56% of net profit for 2015 according to IFRS, retained;

- UAH 215 601 326,40 that is 90,44% of net profit for 2015 according to IFRS, directed to increase statutory capital of PJSC CB "PRIVATBANK".

There are no deductions to the dividends payment fund according to the results of economic activity of PJSC CB "PRIVATBANK" in 2015.

General Meeting of Shareholders

Date of the Meeting
       Notice of the Meeting (PDF)               
          Agenda Changes (PDF)            
          Minutes   of the Meeting (PDF)           

18.03.2011

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26.04.2011

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01.06.2011

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10.06.2011

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The meeting did not take place due to lack of quorum

15.06.2011

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25.06.2011

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The meeting did not take place due to lack of quorum

08.08.2011

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18.10.2011

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The meeting did not take place due to lack of quorum

16.12.2011

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12.04.2012

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28.05.2012

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12.02.2013

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26.04.2013

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25.04.2014

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24.11.2014

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10.02.2015

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06.04.2015

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27.04.2015

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10.07.2015

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29.04.2016

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24.06.2016

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26.08.2016

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Statements and other information

  • Annual information
    of joint-stock company
  • Quarterly information
    of joint-stock company
  • Specific information
    of joint-stock company
  • Securities of the issuer
     

June 07, 2011 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)
June 07, 2011 – Details about changes in staff of issuer officers (PDF)

June 15, 2011 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

June 15, 2011 – Details about approving decision on placement of securities exceeding 25 percent of statute capital (PDF)

August 08, 2011 – Details about changes in staff of issuer officers (PDF)

December 12, 2011 – Details about approving decision on purchasing own shares (PDF)

April 28, 2012 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

June 05, 2012 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

August 03, 2012 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

August 28, 2012 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

September 09, 2012 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

March 18, 2013 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

July 22, 2013 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

September 06, 2013 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

September 10, 2011 – Details about changes in staff of issuer officers (PDF)

September 17, 2013 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

October 09, 2013 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

January 23, 2014 – Details about changes in staff of issuer officers (PDF)

March 07, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

March 14, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

March 26, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

April 10, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

April 10, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

April 25, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

May 13, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

November 11, 2014 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

April 6, 2015 – Details about approving decision on placement of securities exceeding 25 percent of statute capital (PDF)

April 17, 2015 – Details about changes in staff of issuer officers (PDF)

April 27, 2015 – Details about approving decision on placement of securities exceeding 25 percent of statute capital (PDF)

April 27, 2015 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

April 28, 2015 – Details about changes in staff of issuer officers (PDF)

April 30, 2015 – Details about changes in staff of issuer officers (PDF)

August 19, 2015 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)

March 25, 2016 – Details about changes within the shareholders who own 10 percent and more of the voting shares of the issuer (PDF)