Privatbank sees in assets increase by 21% over 2017 – preliminary report

Source : 112 Ukraine

The bank’s charter capital added another $1.75 billion and currently stands at $5.6 billion.
18:05, 6 February 2018

Open source

The state-run Privatbank (Kyiv) saw its assets rise to $9.34 billion in 2017, which means a 21% increase, the corporation said in its preliminary report, Interfax-Ukraine reports.

Related: The real price for nationalization of PrivatBank

According to the report, the bank’s loan portfolio grew by 5.9% to reach $8.49 billion. This figure includes a slight (0.66%) increase in corporate loans, which reached a total of $6.99 billion. Also, Privatbank managed to boost the volume of loans issued to individuals by 40%, to $1.5 billion.

Related: Finance Ministry injects UAH 16 billion into Privatbank

The volume of securities expanded by 78.1%, to $587 million. Funds of individuals increased by 34.88% to reach $1.46 billion, whereas corporate funds rose by 9.48% and reached $6.04 billion.

The bank’s charter capital added another $1.75 billion and currently stands at $5.6 billion.

Related: Ukraine's Finance Minister confirms arrest of assets of PrivatBank ex-owners

The bank also presented some economic requirements figures as of January 1, 2018. Capital adequacy (N2) was 13.87% with the requirement of at least 10% (early 2017 N2 was 2.1%), instant liquidity requirement (N4) was 32.7% with the limit of at least 20%, current liquidity (N5) – 152.91% (at least 40%), short-term liquidity (N6) – 98.11% (at least 60%).

Related: PrivatBank was a typical financial pyramid before nationalization

According to the bank’s forecast for 2018, the corporation expects to obtain a net profit of $144.2 million.

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