PrivatBank's profit expands to UAH 592 mln in Jan-Sept

The largest bank in Ukraine, PrivatBank (Dnipro) posted a 6.5-fold rise in profit in January-September 2016 year-over-year, to UAH 592 million, the bank has said in a report.

Net interest income (before payments to reserves) over the period reached UAH 3.085 billion (UAH 3.281 billion in January-September 2015). Commission revenue grew by 71%, to UAH 7.587 billion.

Total assets grew by 5%, to UAH 271.54 billion, including credits and advance payments to clients – by 2.6%, to UAH 194.318 billion.

The amount of credits and advance payments to affiliated persons as of September 30 totaled UAH 7.189 billion and this was 54.6% down year-over-year.

The bank's liabilities grew by 4.4%, to UAH 241.245 billion, including funds of clients – by 10.2%, to UAH 196.077 billion. Liabilities under transactions with affiliated persons as of September 30, 2016 reached UAH 22.877 billion (UAH 22.703 billion as of late 2015).

Debt to the National Bank of Ukraine (NBU) as of October 1, 2016 totaled UAH 21.087 billion and this is 22.1% down since early 2016 (UAH 27.079 billion).

As of September 30, 2016, 11.46% of the share capital of the bank (8.7 million shares) was used as collateral to secure NBU's credits.

Subordinated debt over the period decreased by 16.1%, to UAH 7.593 billion.

Capital totaled UAH 30.295 billion, including share capital – UAH 21.257 billion and contributions to capital paid but not registered amounted to UAH 4.591 billion.

PrivatBank was founded in 1992. As of March 31, 2016 its largest shareholders were Hennadiy Boholiubov (direct participation is 33.2525%, indirect - 8.3244%) and Ihor Kolomoisky (direct participation - 41.6572%, indirect - 8.3244%).