Private profit: How much did the state bank earn in 2022 (infographic)
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State Privatbank ended 2022 with a net profit of UAH 30.25 billion. At the end of 2021, the net profit of Privatbank amounted to UAH 35.05 billion. This is reported by the bank’s press service, clarifying that these are preliminary data for confirmation of the bank’s annual financial statements by an external auditor.
Photo: ukrinform.ua 0
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Privatbank issued UAH 23.8 billion in loans to small and medium-sized businesses last year, which resulted in a 58% increase in the loan portfolio of legal entities after deducting reserves.
In order to cover the increased credit risks in the conditions of the war in 2022, Privatbank formed reserves in the amount of more than UAH 14.5 billion. Also, during the year, reserves were formed for expected losses as a result of hostilities: for the loss of cash and other assets due to the destruction of premises and ATMs.
In 2022, the bank remained operationally efficient, limited all expenses not related to business continuity, and effectively managed operational expenses.
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In the conditions of accelerating inflation, the bank’s expenses increased by only 5% (0.9 billion UAH), primarily due to personnel support, protection of information systems, and the implementation of charitable programs aimed at strengthening defense capabilities, reducing the negative consequences of war, and supporting medical institutions of Ukraine .
Source: Ministry of Finance
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