PrivatBank’s profit fell sharply in 2021

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PrivatBank’s profit fell sharply in 2021

21.04.2021 News

In the first quarter of 2021, PrivatBank’s profit amounted to UAH 2.4 billion, which is 4.3 times less than in the same period last year (UAH 10.4 billion). This was reported on the bank’s website.

“Changes in the world economy and Ukraine’s economy, first of all, the growth of yields on long-term US government treasury securities and the strengthening of the hryvnia led to a negative result in the first quarter of the revaluation of indexed domestic government bonds received as a contribution to the bank’s share capital “, – it is told in the message.

Thus, the bank’s losses due to the revaluation of capital IGLBs in the investment portfolio of the financial institution amounted to UAH 6.8 billion, while the bank’s profit from business activities amounted to UAH 8.5 billion, and from the revaluation of the currency position – UAH 500 million.

PrivatBank’s net interest income increased by 20.7% to UAH 6.3 billion, while operating expenses remained at UAH 4.1 billion.

The bank’s net commission income increased by 15.2% to UAH 5 billion, due to an increase in the number of active customers of the bank by 6% to UAH 18.64 million.

The bank’s loan portfolio decreased by 4.7% to UAH 58.5 billion compared to the first quarter of last year.

 

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