REUTERS
PrivatBank is among the top 10 successful financial institutions in the world.
Ukraine's largest bank, PrivatBank, has posted record high net profit in its history, having reported UAH 18.3 billion, or US$709 million, in the first half of 2019, which is 2.6 times up year-over-year.
The bank's net interest income for the specified period amounted to UAH 9.8 billion (US$380 million), while net commission income stood at UAH 8.5 billion (US$329 million), the bank's press service reported, referring to Petr Krumphanzl, CEO and Chairman of the Board at PrivatBank.
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"The high efficiency of the bank's work has already gained recognition internationally. According to U.K-registered The Banker, PrivatBank entered the top 10 successful financial institutions in the world, which showed the best dynamics of the transition from loss to profit," the press service quoted Krumphanzl as saying.
Since the beginning of the year, the growth of the bank's loan portfolio for small- and medium-sized businesses amounted to UAH 1.5 billion (US$58 million), while the loan portfolio for individuals expanded by UAH 4.1 billion (US$159 million).
According to the press service, the total increase in customer deposits in January-June 2019 was UAH 7.7 billion (US$298 million), to UAH 219 billion (US$8.49 billion).
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 2018, the bank posted UAH 11.7 billion (US$454 million) in profit against almost UAH 23 billion (US$891 million) in loss in 2017.