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Ukraine's No. 1 PrivatBank, which was nationalized in December 2016, posted UAH 2.89 billion, or US$112 million, in loss in the first half of 2017 (H1) against UAH 552 million, or $21.4 million, in profit year-over-year (y-o-y), according to the bank's financial statements posted on its website.
The bank's assets over the period under review increased by 11.5%, to UAH 228.879 billion ($8.9 billion), while liabilities rose by 5.8%, to UAH 218.153 billion ($8.4 billion), the report said.
As UNIAN reported earlier, PrivatBank's net profit in January-March 2017 grew by 3.52 times y-o-y, to UAH 744 million, or $28.8 million, according to a bank announcement in the National Securities and Stock Market Commission's information disclosure system.
Read alsoPrivatBank becomes Ukraine's second bank trusted with storage of NBU's cash 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 $998 million, at the end of December 2016, and more bonds worth UAH 1.4 billion, or $54 million, in January this year.