In 2023, PrivatBank increased profit by 25% to UAH 37.8 billion compared to 2022 (UAH 30.3 billion).
This is stated in the bank's message, Ukrainian News Agency reports.
The bank's pre-tax profit reached UAH 72.8 billion, which is more than double the result of 2022.
In 2023, the bank increased net portfolio of retail loans by 39% to more than UAH 60 billion and net portfolio of business loans by 23% to more than UAH 30 billion.
It was also possible to increase the volume of deposits by UAH 85 billion (18%).
Such an increase in business scale led to an increase in the bank's net interest income by UAH 16.7 billion.
Another UAH 3.0 billion of the increase in net interest income is due to the interest policy implemented by the NBU during 2023.
Net commission income increased by 20%, reaching UAH 24.4 billion.
The quality of the loan portfolio is gradually improving, which provides significant savings in the costs of forming reserves.
In 2023, they decreased by UAH 11.8 billion compared to 2022.
Based on the results of 2023, PrivatBank will send UAH 26.8 billion of income tax to the budget (another UAH 8.2 billion was prepaid in 2021-2022 at the same time as dividends).
Most of the net profit of the bank, by decision of the shareholder represented by the Ministry of Finance, will be directed to the payment of dividends, i.e. also to the state budget.
As Ukrainian News Agency earlier reported, in 2022, PrivatBank reduced profit by 14% to UAH 30.25 billion compared to 2021 (UAH 35.05 billion).
100% of PrivatBank belongs to the state represented by the Ministry of Finance.
Profits increased in all Ukrainian banks mostly due to the deposit certificates of the NBU - due to excess profits of the banks, the board imposed an additional income tax - 50% instead of 18%, which other businesses pay.
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