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THE BANK THAT DOES MUCH MORE THAN OTHERS

We are building Ukraine of our dreams

55% of the profits of all banks in Ukraine

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.

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How does PrivatBank earn money for you?

147 PrivatBank’s services in my hands

“Do” is our main word

More than half of the users of banking services in Ukraine – from individuals to companies and entrepreneurs – are clients of PrivatBank. Over the past three years, the number of our customers has increased by 2 million. The bank continues to grow...

More than half of the users of banking services in Ukraine – from individuals to companies and entrepreneurs – are clients of PrivatBank. Over the past three years, the number of our customers has increased by 2 million. The bank continues to grow.

 

We are constantly launching something new, from small everyday improvements to large-scale projects that help millions of people and businesses: from the first bank in a smartphone to the first Apple Pay operator. We always keep ourselves busy and make innovative technologies available to Ukrainians.

 

Updated Privat24 and its migration to a new platform

We try to make Privat24 a universal platform for each customer. Currently, the application offers 147 different services. Every day, more than 8,000 people download Privat24 applications for Android and iOS. In total, they are used by almost 11 million customers. Our mobile applications have already migrated to a fundamentally new platform allowing them to work much faster. Adding new functions is going to be easier for us, too.

 

From cashless to contactless

Last year, we have been actively helping our customers to make the most of their payment gadgets, primarily smartphones, and smartwatches. Our customers are the first in the world to customize their cards by adding original Apple Pay and Google Pay card skins. We took heed the wishes of our customers: starting from 2019, you can issue a full payment card without visiting the bank. We do mean it — no more visits just to get a card.

 

A State in a Smartphone

More and more car owners among PrivatBank's clients prefer to register a "car insurance" using Privat24. For the whole of last year, we have been working hard to help our customers get government services in a quick and efficient way. And we made it!

 

Pioneering biometrics in Ukraine

Another technological breakthrough is FacePay24, a biometric payment system provided by PrivatBank. Our customers were among the first in Europe to be able to confirm their payments in stores by simply looking at the camera lens in a special terminal.

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Why PrivatBank is the leader in innovation not only in Ukraine but Europe, too?

It's Easy to Help

We do not beat the drum. We just help

It's Easy to Help!

PrivatBank’s charitable foundation named "It's Easy to Help!" has been operating for nine years now. It allows everyone to support charity. Last year, 1.2 million customers donated ₴40.1 million to help those in need...

It's Easy to Help!

PrivatBank’s charitable foundation named "It's Easy to Help!" has been operating for nine years now. It allows everyone to support charity. Last year, 1.2 million customers donated ₴40.1 million to help those in need.

 

PrivatBank reliably converts your money into good deeds. In 2019, the average contribution amount was less than ₴8. However, even this was enough to help tens of thousands of children and adults all over Ukraine.

 

JuniorBank is now online

PrivatBank has been teaching 600,000 students a year for 10 years! JuniorBank is a real bank for our youngest clients. This year, we have launched JuniorBank, a free online business school that helps children from even the most remote corners of the country gain financial literacy.

 

The first “smart” village

Almost one-quarter of Ukraine's population lives in rural areas not having access to digital financial products. Voloske, a small village in the Dnipropetrovsk region, has become the first pilot “smart” village due to PrivatBank.

 

The country of successful business

The KUB “Country of Successful Business” is our program for supporting entrepreneurship in Ukraine. Active entrepreneurs are the strength and the future of Ukrainian economy, so the KUB's mission is to educate and motivate them, as well as help them to develop and create jobs.

 

Valuing experiences

We break age stereotypes: we have a #valuing_experience program for retired or pre-retired people. At the same time, we involve thousands of young people in “Online practice”, PrivatBank’s educational project, to help them gain their first experience and practical skills while working for a bank. The Ministry of Education and Science of Ukraine recommends “Online Practice” to students as the first step in their financial career.

 

The spirit of innovation

We cultivate a spirit of innovation in the team: during the educational trips to Silicon Valley, our regular employees visited offices of Google, Amazon, Tesla, etc., as well as studied at Stanford and Berkeley universities. In PrivatBank, innovative ideas always find support and become products. This is the ideology that our team adheres to.

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How does PrivatBank contribute to community?

Course for privatization

Independent corporate governance

Four years ago, the government had to nationalize PrivatBank in a move aimed at rescuing it, which cost ₴155 billion to Ukrainian taxpayers. To ensure that this never happens again, the bank's management system must be transparent and efficient...

Four years ago, the government had to nationalize PrivatBank in a move aimed at rescuing it, which cost ₴155 billion to Ukrainian taxpayers. To ensure that this never happens again, the bank's management system must be transparent and efficient.

 

That is why in 2018 Ukraine adopted a law on corporate governance in state-owned banks, which provides for such a system. The owner — the state — determines and approves the bank's strategy. Implementation of the strategy is overseen by an independent supervisory board, and is implemented by its management board and 22,000 bank employees.

 

PrivatBank's strategy

PrivatBank's strategy was agreed with the Ministry of Finance of Ukraine in 2018. These are the main goals of the strategy:

 

The bank works primarily for private clients and small businesses. PrivatBank should become profitable and will remain a state-owned bank until 2022. During this time, we will bring our shareholder, i.e. the state, the maximum profit possible and compensate for losses from loans issued by the bank before nationalization.

 

The goal of the strategy is successful sale of the bank to foreign investors. Thus, taxpayers' money invested from the budget four years ago will return to the budget and will be maximized.

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Why is it important who and how manages PrivatBank?

To return money withdrawn from the bank

The lawsuits related to the bank

Every time you read about the lawsuits related to the bank, you should keep in mind the following: PrivatBank remains the largest and most profitable state-owned bank in Ukraine. We grow and develop every day and do our best so that no litigation affects our clients...

Every time you read about the lawsuits related to the bank, you should keep in mind the following: PrivatBank remains the largest and most profitable state-owned bank in Ukraine. We grow and develop every day and do our best so that no litigation affects our clients.

 

Protection of the bank's interests

PrivatBank has filed four lawsuits in the UK, US, Israel, and Cyprus against its former owners and their partners to seek compensation for the bank's damages valued at $10 billion.

 

New banking law

The issue of appealing the nationalization of PrivatBank was closed at legislative level when the Verkhovna Rada passed the so-called "new banking" law, despite 16 thousand amendments proposed to it. The law came into force in May 2020.

 

The essence of the law is that any nationalized bank, by definition, cannot be returned to the former owners — such a mechanism simply does not exist anymore. The former owners can only claim fair compensation from the government, but this has nothing to do with PrivatBank.

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How does PrivatBank protect national interests in courts?

WE GET THINGS DONE

Every second Ukrainian is a client of PrivatBank; each and every one is its shareholder. After the nationalization in 2016, the bank belongs to the state, and hence to all citizens of Ukraine.

 

We, the PrivatBank team, are dedicated to making the bank's activity as transparent as possible. We make sure that our results can be seen by anyone and everyone.

 

Read on to find out how your PrivatBank works and what benefits it has created at private and national levels.

 

The mission of PrivatBank, for which we work every day, is to build Ukraine of our dreams.

Every second Ukrainian is a client of PrivatBank; every first one is its shareholder. After the nationalization in 2016, the bank belongs to the state, and hence to all citizens of Ukraine.

 

We, the PrivatBank team, are dedicated to making the bank's activity as transparent as possible. We make sure that our results can be seen by everyone.

 

Read on to find out how your PrivatBank works and has benefited at private and national levels.

 

The mission of PrivatBank, for which we work every day, is to build Ukraine of dreams.

 

Not a fairy-tale land, where the sun always shines and carefree people live happily, but a country of innovative technologies, active entrepreneurs, and developed financial ecosystem. This task is a big challenge even for the country's largest bank, but we have gladly accepted it.

 

We don't wait for an opportunity or a command from above — we just get things done.

 

We are not afraid of mistakes, because we know that every mistake we make up moves us forward. We are constantly inventing new products and services for customers and moving the country's economy up. This report proves that we are doing it well.

 

Sincerely Yours, the Management Board of PrivatBank

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