Ukraine's PrivatBank reports 2.7-fold y/y jump in net profit in January-June

Ukraine's PrivatBank reports 2.7-fold y/y jump in net profit in January-June
By bne IntelliNews July 16, 2019

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

Garbage discovery shows Turkey held urgent talks with Moscow over connecting to Russian alternative to SWIFT

Russia and Turkey held urgent talks in July on connecting Turkish companies and lenders to the Russian central bank’s alternative to the SWIFT financial messaging system, Bloomberg wrote on August ... more

France reportedly offers Iran $15bn Instex credit line for sanctions-protected trade

France has reportedly proposed providing Iran with a $15bn credit line that would oil the wheels of the EU’s Instex (Instrument in Support of Trade Exchanges) channel for Iranian and European ... more

IPO demand accumulating in Turkey in advance of normalisation of markets says JPMorgan top executive

JPMorgan Chase & Co anticipates that Turkey’s capital markets will return to life as the country’s inflation and interest rates decline, Mustafa Bagriacik, chief executive officer of the ... more

Dismiss