Over the last two years, PrivatBank has transferred ₴36 bln dividends to state budget
Three years ago, the state had to inject ₴155 billion in PrivatBank to rescue it from bankruptcy and the whole Ukrainian banking system from collapse. The bank has never had a need to receive financial assistance from Ukrainian taxpayers since...
Three years ago, the state had to inject ₴155 billion in PrivatBank to rescue it from bankruptcy and the whole Ukrainian banking system from collapse. The bank has never had a need to receive financial assistance from Ukrainian taxpayers since.
Being state-owned is not equivalent to being unprofitable
Ukrainians tend to think that state participation makes any business inefficient, non-transparent, and backward. PrivatBank has proved that this is not always the case. The nationalized bank has stopped "bleeding" the state and started to fill the state budget.
Dividends and taxes to the state budget
Since the nationalization, the budget has received a total of ₴36 billion from the bank. PrivatBank pays more taxes than any other Ukrainian banks.
The most profitable year ever
Last year was the most profitable in the bank’s history we have earned ₴32.6 billion. The bank's profit is the difference between its expenses and income. During the last year we have earned much more than we have spent.
Earned more, spent less
Last year, our profit was mainly due to the growth in banking activities, such as loans, deposits, commissions, etc.
Another source of income is a strengthening hryvnia which resulted in the bank's securities and other assets starting to cost more.
In 2019 — for the first time in history — the hryvnia exchange rate rose against other currencies, and not fell. Inflation reached a record low, while GDP growth reached a record high. PrivatBank managed to take advantage of global and Ukrainian economic growth to show a maximum profit.
Half of the profits of the whole Ukrainian banking system
Last year, PrivatBank accounted for 54.7% of the profit of the banking system of Ukraine and 92.6% of the profit of all state-owned banks in the country.