Nationalized PrivatBank received UAH 2.9 billion of net loss

Nationalized “PrivatBank” in the first half of this year, has received 2,908 billion net loss, while during the same period last year, he had 531 million UAH of net profit.

It is reported FinClub, citing the Bank’s financial statements.

Videolibrary audit showed a large number of problem loans “PrivatBank”

TSN. 19:30

4 Jul, 20:49

Net interest income of “PrivatBank” has increased by 1.85% – up to 2,713 billion. After deduction of 6,518 billion in provisions for loan impairment net interest loss amounted to $ 3,805 billion. In the first half of last year the Bank posted UAH 2.18 bn in net interest income.

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The NBU has revoked the license of an audit company for the “wrong” check “PrivatBank”

Net fee and Commission income of the Bank for the six months increased by 28% to 4,343 billion. Administrative expenses increased by 16.7% to 5,107 billion.

The assets of PrivatBank increased by 11.5% – 228,879 billion mainly due to increase in cash and cash equivalents – by 27.9%, to 38,56 billion UAH, and also due to receipt of the balance of 10,207 billion UAH of investment securities held to maturity.

The loan portfolio increased 1.3%, to 44.17 billion.

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NABU explained the reasons for the search in “PrivatBank”

The “PrivatBank” was reduced obligations to the NBU – 5,135 billion UAH, up to 12,912 billion. The Deposit portfolio of the Bank for the first half year increased by 9.8% to 198,952 billion.

We will remind, “Privat” was nationalized at the end of December 2016. Now the Bank is 100% owned by the state and subordinated to the Ministry of Finance. Meanwhile, the former owners are challenging the nationalization of “PrivatBank” in court. Lawyers say that one of the reasons of return of the enterprises in state property was declared by the national Bank the number of credits issued to certain persons, but the cause is still not confirmed.

23 June it became known about the decision of the government on the recapitalization of the Bank 38.5 billion UAH.