Ukraine's largest bank PrivatBank / Photo from UNIAN
The bank's clientele also expanded over the period under review.
Ukraine's No. 1 bank PrivatBank posted UAH 11.7 billion, or US$418 million, in profit in 2018.
"PrivatBank's profit is UAH 11.7 billion," Chairperson of PrivatBank's Management Board (CEO) Petr Krumphanzl said at a press conference in Dnipro.
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In his words, this is the best result of the bank after the crisis and the start of hostilities in Ukraine.
The number of the bank's clients in 2018 grew by 1.5 million, to about 22 million, he said.
Almost 9 million bank customers are active users of the Privat24 service.
The bank's head also outlined priorities for his organization, namely the development of the retail sector, as well as services for small- and medium- businesses.
"We expect profit in 2019 will exceed UAH 9 billion, or US$321.4 million. But I hope we will be able to get even more," Krumphanzl added.
UNIAN memo. Dnipro-based PrivatBank has been operating in the Ukrainian market since 1992 and is the largest bank in terms of assets. The bank has been owned by the state since December 2016. At the end of 2017, the bank received an almost UAH 23 billion, or US$821 million, in loss due to the formation of reserves for assets.