What happened? According to the results of 2022, state-owned PrivatBank reduced its profit by 14% compared to 2021 – to 30.25 billion UAH.
Source. The press service of the bank.
Details. "These are preliminary data, before the bank's annual financial statements are confirmed by an external auditor," the statement says.
The state bank emphasises that out of more than 1200 branches, an average of 80% of branches remained open daily during the war. The bank also restored the network of ATMs and POS terminals to 80% or more during the year.
In the face of rising inflation, the bank's expenses increased by only 5%, or 0.9 billion UAH.
During 2022, the bank issued 23.8 billion UAH to small and medium businesses, which led to a 58% increase in the loan portfolio of legal entities after deduction of reserve funds.
In 2022, PrivatBank established reserves of over 14.5 billion UAH to cover increased credit risks under conditions of war. During the year, financial provisions were also made for expected losses as a result of hostilities: for the loss of cash and other assets due to the destruction of premises and ATMs.