Net profit of Ukraine's largest lender PrivatBank, nationalised in late 2016, jumped by 2.7 times to UAH18.3bn ($310mn) in January-June, the lender said in a statement e-mailed to bne IntelliNews on July 12.
According to the statement, PrivatBank's net interest income stood at UAH9.8bn, net commission income reached UAH8.5bn in the first half of 2019.
The bank was nationalised in late 2016 owing to an alleged hole of UAH148bn ($5.6bn) in its balance sheet because of related-party financing. In 2017, the then central bank governor Valeriya Gontareva said the post-nationalisation audit of the bank had found that 100% of the corporate portfolio had been made to related parties.
Related Articles
Fintech Freedom Holding aims to make France key entry point into EU with €500mn investment
A French banking licence would open the way to a new phase in the international expansion of Nasdaq-listed fintech group Freedom Holding Corp. That’s the expectation of Freedom, a company ... more
Net income at Freedom Holding Corp more than doubles in fiscal 2026
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more