PrivatBank transferred UAH 24.5 billion in dividends to the state budget in full, aimed at paying the bank's shareholder, the state.
"During the last two years, PrivatBank has sent UAH 36 billion to the state budget in dividends alone. Our profits reflect our dedication to providing high quality services to our clients and the level of collaboration across the organization. Through the practice of good corporate governance we focus on profitability realized through effective operational and fiscal management," said Sharon Easky, Chairman of PrivatBank's Supervisory Board.
"The high level of liquidity allows us to send funds to the budget in one payment, which will be a good support for the budget during the difficult period of the global coronavirus pandemic and the subsequent economic slowdown," said PrivatBank’s Chairman of the Management Board Petr Krumphanzl.
It should be recalled that according to the Annual Report for 2019 approved by the Supervisory Board and the bank's shareholder, PrivatBank directed UAH 24.5 billion (75% of net profit for 2019) to pay dividends to the state. According to the Bank's Annual Report, its net profit for 2019 amounted to UAH 36.8 billion. At the beginning of 2020, PrivatBank’s net assets amounted to UAH 309.7 billion, liabilities to UAH 255.2 billion, and PrivatBank’s capital to UAH 54.5 billion.