Economy 2023-11-15T06:07:04+02:00
Ukrainian news
PrivatBank Cuts Profit By 17% To UAH 11.6 Billion In H1

PrivatBank Cuts Profit By 17% To UAH 11.6 Billion In H1

PrivatBank, PrivatBank profit, net profit

In the first half of 2021, PrivatBank cut its net profit by 17% year over year to UAH 11.6 billion.

That follows from the data provided by PrivatBank, Ukrainian News Agency reports.

In the second quarter of 2021, PrivatBank's net profit made UAH 9.2 billion, and it was UAH 11.6 billion in the first half of 2021.

The profit from servicing clients and bank transactions in the first half of 2021 made UAH 17.4 billion, up 35% year over year.

The volume of customer accounts with the bank at the end of the first half of the year increased by 14% year over year to UAH 305 billion.

The number of active individual clients of PrivatBank in the first half of the year increased by 500,000, the client base of entrepreneurs increased by 76,000, and the number of Privat24 users increased by 1.2 million.

The increase in the client base and the number of payment transactions ensured an increase in the bank's fee and commission income by 30% to UAH 10.6 billion.

The net interest income rose by 25% compared to the first half of last year and amounted to UAH 13.3 billion.

The loan portfolio of PrivatBank increased by 11% year over year to UAH 62.5 billion due to the development of lending to small and medium-sized businesses.

In the first half of 2021, the influence of macroeconomic factors, primarily the growth in the yield of long-term US government treasuries and the strengthening of the hryvnia, led to a negative result from the revaluation of indexed government domestic loan bonds received as a contribution to the bank's authorized capital during nationalization.

Situational, not related to the bank's activities, the loss from this portfolio in six months of 2021 amounted to UAH -6.9 billion.

At the same time, the positive impact on the bank's results of fluctuations in exchange rates partially offset these losses by UAH 1.3 billion hryvnia.

As Ukrainian News Agency earlier reported, in June, PrivatBank sent all dividends of UAH 19.4 billion to the state budget.

In compliance with the annual report of the bank, its net profit in 2020 made UAH 24.3 billion.


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