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.
Slovenia’s second largest bank Nova KBM (NKBM) has received clearance from the Competition Protection Agency to acquire the local Abanka in a €444mn transaction, NKBM said on December 5. The ... more
Hungary is ready to start talks on joining the Eurasian Development Bank (EDB) as a full member, Finance Minister Mihaly Varga said at a conference in Moscow on November 29. Joining the EDB would ... more
Weak external trade demand, geopolitical uncertainties and impaired private balance sheets are projected to keep Turkey’s GDP growth at around 3% in 2020, well below potential growth which itself ... more