Ukrainians get US$1.16 bln in remittances from abroad in 2019 via PrivatBank's services

Ukraine's largest state-owned PrivatBank has said Ukrainians in 2019 received US$1.16 billion from abroad via money remittance systems through the banks' services.

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In particular, major money transfers to Ukraine via PrivatBank arrived from the United States (US$194 million), Israel (US$169 million), Italy (US$107 million), Russia (US$97 million), and Poland (US$73 million), the bank's press service reported on February 20.

Every second transfer from abroad was paid through online services and the bank's cash desks, while every third recipient used digital services to get his or her money.

In 2019, the share of money transfers from Ukraine via PrivatBank's services was 62% or US$247 million in monetary terms, the report said.

Ukrainians most often transfer money to Russia (US$70 million), Georgia (US$29 million), Azerbaijan (US$17 million), China (US$15 million), and Uzbekistan (US$12 million), it said.

As UNIAN reported earlier, private remittances to Ukraine in 2019 through official and informal channels amounted to almost US$12 billion in equivalent, which was 10% up from 2018.

At the same time, one fifth of the money transfers to Ukraine, or almost US$2.3 billion, was received through remittance systems.