PrivatBank received more than UAH 16B of profit in January-July 2020

PrivatBank received more than UAH 16B of profit in January-July 2020

Ukrinform
JSC CB PrivatBank received UAH 16.2 billion in profit in January-July 2020, which is the highest result compared to other banks, Finbalance reports referring to data provided  by the National Bank of Ukraine (NBU).

In January-July 2020, the largest profits were declared by PrivatBank (UAH 16.2 billion), Oschadbank (UAH 4.3 billion), Raiffeisen Bank Aval (UAH 2.46 billion), FUIB (UAH 1.5 billion), OTP Bank (UAH 909 million), Citibank (UAH 828 million), Ukrsibbank (UAH 785 million), Alfa-Bank (UAH 587 million), Ukrgasbank (UAH 554 million), Credit Agricole Bank (UAH 495 million).

The lion's share of PrivatBank's and Oschadbank's profit were provided by the trading result (UAH 11.6 billion and UAH 4.1 billion, respectively), which mostly consisted of the revaluation of government domestic loan bonds’ portfolio due to the weakening of the hryvnia exchange rate (operations with financial assets and liabilities amounted to UAH 16.3 billion and UAH 6.5 billion, respectively).

In January-July 2020, the largest losses were recorded by Ukreximbank (-UAH 2.24 billion), Prominvestbank (-UAH 331 million), Credit Dnipro (-UAH 184 million), Pravex Bank (-UAH 99.9 million), BTA Bank (-UAH 67 million), Bank Arcada (-UAH 16.5 million), UNEX Bank (-UAH 16.2 million), Bank Forward (-UAH 12 million), Oxy Bank (-UAH 7.6 million), AP Bank (-UAH 7.3 million).

As Ukrinform reported, solvent banks received a net profit of UAH 28.4 billion in January-July 2020, which is 22.6% less than in the same period last year.

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