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Ukraine's largest PrivatBank boosted net profit by 3.52 times in January-March 2017 year-over-year, to UAH 744 million, or US$28.7 million, according to a report by the bank in the State Securities and Stock Market Commission's information disclosure system.
The bank's assets in the first quarter shrank by 9.3%, to UAH 224.19 billion, or $8.66 billion, while loans and clients' debts rose by 5.1%, to UAH 45.802 billion, or $1.77 billion.
Read alsoPrivatBank becomes Ukraine's second bank trusted with storage of NBU's cash As UNIAN reported earlier, on December 18, 2016, the Cabinet decided to nationalize Ukraine's No. 1 bank, Dnipro-based PrivatBank, being guided by the recommendations of the National Security and Defense Council.
To this end, it issued government bonds worth UAH 117 billion, or $4.5 billion, while the NBU purchased the bonds totaling UAH 25.8 billion, or $995 million, at the end of December 2016, and more bonds worth UAH 1.4 billion, or $54 million, in January this year. The Cabinet of Ministers in June decided to capitalize PrivatBank for another UAH 38.5 billion, or $1.5 billion.