Ukraine's PrivatBank reports 2.7-fold y/y jump in net profit in January-June

Ukraine's PrivatBank reports 2.7-fold y/y jump in net profit in January-June
By bne IntelliNews July 16, 2019

Net profit of Ukraine's largest lender PrivatBank, nationalised in late 2016, jumped by 2.7 times to UAH18.3bn ($310mn) in January-June, the lender said in a statement e-mailed to bne IntelliNews on July 12.

According to the statement, PrivatBank's net interest income stood at UAH9.8bn, net commission income reached UAH8.5bn in the first half of 2019.

The bank was nationalised in late 2016 owing to an alleged hole of UAH148bn ($5.6bn) in its balance sheet because of related-party financing. In 2017, the then central bank governor Valeriya Gontareva said the post-nationalisation audit of the bank had found that 100% of the corporate portfolio had been made to related parties.

Related Articles

IMF says huge hike of minimum wage in North Macedonia could be counterproductive

The International Monetary Fund (IMF) criticised the North Macedonia’s government for raising the minimum wage by 44% cumulatively since 2017 amid low productivity growth, according to its ... more

J.P. Morgan considers including Serbian bonds in GBI-EM index

J.P. Morgan has placed Serbia on Index Watch Positive and could include it in its Government Bond Index-Emerging Markets (GBI-EM), Serbia’s central bank said in a statement. Central bank ... more

North Macedonia’s central bank cuts key rate by 0.25 pp

North Macedonia’s central bank decided on January 15 to cut the key rate to 2% from 2.25%, assessing that there is a space for further easing of monetary policy. The decision was based on ... more

Dismiss