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PrivatBank earned UAH 2.4 billion in net result result of the first quarter of 2021. According to the bank's press office, the result from banking operations after the first three months of 2021 reached UAH 8.5 billion, which is 27% growth if compared to the first quarter of 2020. It demonstrates sustainability of the business model and the ability of the Bank to adjust its regular activity to new COVID-reality.

The number of active customers increased by 6% to 18.64 million if compared to the first quarter of 2020, and the number of active digital clients grew by 30% to 13 million. The volume of transactions increased accordingly which resulted in commission income growth by 16% to UAH 5 billion.

Net interest income increased by 21% compared to the previous year and amounts to UAH 6.3 billion. The Bank continues to reduce deposit rates gradually so that loans become more available to both businesses and individuals. Thus, net loan portfolio grew by 6% if compared to the fourth quarter of 2020 and amounts UAH 58,5 bln but still it is 4,7% lower than “pre-covid” volumes of the first quarter of 2020. The resumption of the loan portfolio goes mainly due to small and medium businesses activity.

However, changes both in the global and Ukrainian economy, primarily the growth of long-term yields on the US Government treasury securities and the strengthening of the hryvnia, led to a negative revaluation of indexed domestic bonds which were received as a contribution to the bank's share capital during the nationalisation.

One-off and not related to regular banking activities of the bank, loss from this portfolio for the first quarter of 2021 amounted to UAH -6.8 billion . At the same time, the positive impact on the bank's results of exchange rate fluctuations partially, by UAH 0.5 billion, partially compensates these losses. But, in general, the influence of macroeconomic factors only led to a significant decline in the bank's profit.

net result
drivers of net result
buisness activity
income and expenses
decrease of thwe funding costs
commission income
3 million new users

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1d Hrushevskoho Str., Kyiv, 01001, Ukraine,