2022-07-14T16:55:00+03:00 Economy 2024-09-15T07:03:32+03:00

Ukrainian news

PrivatBank Cuts Profit Almost 2-Fold To UAH 6.3 Billion For H1

PrivatBank Cuts Profit Almost 2-Fold To UAH 6.3 Billion For H1

In January-June, PrivatBank reduced its profit by 45% to UAH 6.3 billion compared to the same period last year (profit of UAH 11.6 billion).

The press service of the bank has announced this, Ukrainian News Agency reports.

It is reported that the amount of lost income during the war is estimated at more than UAH 5.5 billion.

To cover credit risks for 6 months of 2022, the bank formed UAH 6.9 billion of reserves, because now most customers cannot serve their obligations.

During the reporting period, the bank's loan portfolio (without loans related to past owners) increased by 16% (gross value).

Also, since the beginning of the year, PrivatBank has increased its customer funds by UAH 61 billion or 19%.

Against the background of hostilities, term deposits tend to decrease (-12.6%), but balances on current accounts of customers increased by 34%, or by UAH 73.8 billion.

As Ukrainian News Agency earlier reported, in January-March PrivatBank received a net profit of UAH 3.7 billion due to the results of the pre-war months.

100% of PrivatBank belongs to the state represented by the Ministry of Finance.

The strategy of managing state-owned banks provides for the sale of PrivatBank within 5 years.