REUTERS
The profit growth was due to the increase in the loan portfolio.
State-run PrivatBank posted UAH 5.2 billion, or US$191 million, in net profit in January-February 2019, which is 75% more year-over-year.
The profit growth was due to the increase in the loan portfolio primarily due to retail loans (+UAH 8.6 billion, or $315 million) and small business financing (+UAH 1.5 billion, or $55 million), which allowed the bank to increase its interest income to UAH 5.5, or $202 million (+UAH 1.1 billion, or $40 million), according to the bank's press service.
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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.