PrivatBank's Profit Makes UAH 5.2 Billion In 2M

In the first two months of 2019, PrivatBank's net profit made UAH 5.2 billion, up UAH 4 billion year over year.

The financial institution has said this in a statement, Ukrainian News Agency reports.

The profit was possible thanks to consistent increase of the loan portfolio by UAH 14 billion.

The loan portfolio growth through retail loans (+UAH 8.6 billion), financing of small enterprises (+UAH 1.5 billion) ensured the increase in interest income of the company to UAH 5.5 billion (+UAH 1.1 billion).

As Ukrainian News Agency earlier reported, PrivatBank has reported the net profit of UAH 11.67 billion for 2018.

The 100-percent stake in PrivatBank belongs to the state represented by the Ministry of Finance of Ukraine.

The strategy for state-owned banks' management provides for sale of PrivatBank within five years.