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Net profit of PrivatBank grew by 3.5 times

Чистая прибыль ПриватБанка выросла в 3,5 разаNet profit of PrivatBank according to the results of the first quarter amounted to 744 million UAH.

According to the financial statements, net interest income of the Bank grew by 22 per cent, from 786 million UAH to UAH 959 million.

After deduction of 2.34 billion in provisions for loan impairment net interest loss of the Bank amounted to UAH 1.38 billion vs. UAH 574 million in net interest income in the first quarter of 2016.

Net fee and Commission income of the Bank increased from 1.97 billion to UAH 2.7 billion.

PrivatBank received UAH 1.38 billion of income as a result of transactions with securities, while during the same period last year – UAH 909 million.

Income from operations with foreign currencies amounted to 480 million UAH, and in the first quarter of 2016 was 161 million UAH loss. Income from revaluation of foreign currency amounted to UAH 294 million against UAH 580 million loss a year ago.

The Bank’s administrative expenses in the reporting period increased by 3.6% – to 2.14 billion.

The Bank’s assets in the first three months decreased by 9.3% and amounted to 224,19 billion, including loans and advances to customers – by 5.1%, to 45.8 billion.

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