PrivatBank transfers almost US$171 mln in dividends to Ukraine's national budget

PrivatBank, the largest bank of Ukraine that has been owned by the state since December 2016, has transferred UAH 4.5 billion (US$170.6 million) in the first tranche of dividends due to be paid to the national budget from its 2018 profit.

Read alsoUkraine's state banks post US$307.5 mln in net profit in Q1

The second tranche worth UAH 7 billion (US$265.5 million) will be channeled into the budget before the end of June, the bank's press service said on June 10.

The financial institution added that according to the annual financial statements approved by the bank's supervisory board and shareholder, PrivatBank would send UAH 11.5 billion (US$436.1 million) in dividends, or 90% of its net profit for 2018, to the national budget.

UNIAN memo. According to the National Bank of Ukraine (NBU), independent auditors confirmed the accuracy of the 2018 financial statements of Ukraine's 25 largest banks, which were in line with International Financial Reporting Standards. Noteworthy, PrivatBank was in the lead in terms of profitability (UAH 12.8 billion/US$485.4 million).