PrivatBank is the largest Ukrainian bank in terms of assets and the #4 in terms of financial health. As of January 1, 2021, the bank's assets amounted to 386.8 billion UAH, which was 23.2% more than last year. In 2020, the bank reduced its profit by 22.4% compared to 2019 – to 25.3 billion UAH.
According to the results of 2020, the bank will transfer 80% of its 19.4 billion UAH net profit for payment of dividends to the state budget. It is included in the list of systematically important banks. In 2020, Privat joined the BankID system.
Previously, the bank was a part of the financial and industrial group Privat owned by Ukrainian oligarchs Igor Kolomoisky and Gennadiy Bogoliubov. At the end of 2016, the bank was declared insolvent, and the state, represented by the Ministry of Finance, became the owner of 100% shares of the institution. The main reason for PrivatBank nationalisation was the state of its assets.
In April 2021, the Antimonopoly Committee (AMCU) filed a suit against PrivatBank for abusing its monopoly position in the acquiring services market. According to the AMCU, the bank set inflated commissions for transactions, regardless of interchange costs.
