Economy 2021-05-07T04:02:40+03:00
Ukrainian news
PrivatBank's Profit UAH 2.4 Billion In Q1

PrivatBank's Profit UAH 2.4 Billion In Q1

bank, PrivatBank, income, profit

PrivatBank has reported a net profit of UAH 2.4 billion for the first quarter of 2021.

Bank’s press service has said this in a statement, Ukrainian News Agency reports.

According to the report, the number of bank’s active clients grew by 6% over the first quarter of 2020 to 18.64 million, and the number of active users of Privat24 digital banking grew by 30% to 13 million.

A respective increase in the number of transactions was possible thanks to the commission income of the bank by 16% to UAH 5 billion.

In turn, the net interest income rose by 21% over the first quarter of 2020 to UAH 6.3 billion, and the loan portfolio rose by 6% over the fourth quarter of 2020 to UAH 58.5 billion.

The press service of the bank emphasized that changes in the global economy and the economy of Ukraine, first of all, an increase in the yield of long-term U.S. government treasuries and the strengthening of the hryvnia exchange rate led to a negative result in the first quarter of 2021 from the revaluation of indexed domestic government loan bonds, which were received as a contribution to the authorized capital of the bank during nationalization.

As Ukrainian News Agency earlier reported, in 2019, PrivatBank's net profit rose 2.8 times over 2018 to UAH 32.6 billion.

In 2020, PrivatBank's net profit fell by 22.4% year over year to UAH 25.3 billion.

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