In 2022, PrivatBank reduced its profit by 14% to UAH 30.25 billion compared to 2021 (profit was UAH 35.05 billion).
This is stated in the bank's message, Ukrainian News Agency reports.
PrivatBank ended 2022 with a net profit of UAH 30.25 billion in the conditions of martial law in Ukraine, prolonged uncertainty and the need to support its own employees, customers and small and medium-sized businesses.
These are preliminary data, before the confirmation of the bank's annual financial statements by an external auditor.
From the first day of the war, out of more than 1,200 outlets, an average of 80% of outlets were opened every day during the war.
In addition, the bank managed to restore the network of ATMs and POS terminals at the level of 80% or more during the year.
Since the beginning of the war, the bank has ensured the transfer of data to the cloud service of an international operator in an extremely short time, which adds confidence in the bank's work.
During 2022, UAH 23.8 billion were issued to small and medium-sized businesses, which led to an increase in the loan portfolio of legal entities after deducting reserves by 58%.
In order to cover increased credit risks under war conditions, in 2022, PrivatBank formed reserves in the amount of over UAH 14.5 billion.
Also, during the year, reserves were formed for expected losses as a result of hostilities: for the loss of cash and other assets due to the destruction of premises and ATMs.
In 2022, the bank remained operationally efficient, limiting all non-business continuity expenses and effectively managing operating expenses.
As Ukrainian News Agency earlier reported, 100% of PrivatBank belongs to the state on behalf of the Ministry of Finance.
The management strategy of state banks envisages the sale of PrivatBank within 5 years.
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