Since the start of the year PrivatBank’s profits have exceeded 5 billion hryvnias thanks to the Bank’s operation in new conditions,

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Since the start of the year PrivatBank’s profits have exceeded 5 billion hryvnias thanks to the Bank’s operation in new conditions, - Halyna Pakhachuk

Halyna Pakhachuk, Deputy Chairman of PrivatBank’s Board, has announced PrivatBank gained over 5 billion UAH in profits over the 4 months of 2017. According to her, the Bank’s profitability growth is the result of operation in new conditions.

“In addition to income from traditional transactions, including loans to individuals, cash desk service, online banking and so on, the revaluation of domestic government bonds with indexed value which make up the Bank's authorized capital is a significant contribution to the profits,” Halyna Pakhachuk notes.

According to the Bank’s Deputy Chairman of the Board, it can be said that the Bank has managed to regulate its exchange risks and the expenditure side of the budget quite successfully in the first 4 months of the year.

The Bank’s financial performance until the end of the year shall mainly depend on the process of creating additional provisions for active transactions and revaluation of assets accepted into the Bank’s ownership by the former management as repayment of troubled loans.

Press service of PrivatBank

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