Supervisory Board of PrivatBank approves development strategy until 2022

Supervisory Board of PrivatBank approves development strategy until 2022

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Ukrinform
The Supervisory Board of PJSC PrivatBank has approved the annual report and the strategy for the bank’s development until 2022, the bank’s press service reports.

“The Supervisory Board of PJSC PrivatBank approved the bank's development strategy for the period until 2022, which provides for a balanced development of the bank with a focus on the retail segment, the development of SMEs and an electoral corporate segment, as well as preparing the bank for sale to foreign investors,” reads the report.

According to the strategy, the growth of lending, lowering the cost of liabilities and normalizing the cost of risk will be the main factors for achieving profitability of the bank starting from 2018. Also, the credit portfolio of PrivatBank is expected to increase with a moderate growth in lending over the next two years. The bank should become profitable as soon as in 2018 and generate at least UAH 8 billion in profits from 2020.

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