PrivatBank reduced profit by almost 14%
In order to cover increased credit risks during the war, in 2022 PrivatBank formed reserves in the amount of more than UAH 14.5 billion.
The net profit of the state-owned PrivatBank in 2022 amounted to UAH 30.25 billion, which is 13.7% less than in 2021 (UAH 35.05 billion). This was reported by the press service of the bank on Thursday, February 2.
“PrivatBank ended 2022 with a net profit of UAH 30.25 billion amid martial law in Ukraine, continued uncertainty and the need to support its own employees of clients and small and medium-sized businesses. This is preliminary data on confirmation of the bank’s annual and financial statements by an external auditor,” it says in the message.
It is indicated that in order to cover increased credit risks during the war, in 2022 PrivatBank formed reserves in the amount of more than UAH 14.5 billion. Also during the year, reserves were formed for expected losses as a result of hostilities: for the loss of cash and other assets due to the destruction of premises and ATMs.
Over the past year, the number of active clients – individuals of the bank increased by 150,000. Now the bank has 19.1 million active clients of individuals and legal entities.
Also in 2022, Privat24 added 1.3 million active clients. In total, the bank has 13.1 million active clients.
Out of 1,200 branches, an average of 80% of branches were opened daily during the war. In addition, the bank during the year maintained a network of ATMs and POS terminals at the level of 80% or more.
Recall that back in November, PrivatBank announced a sharp decline in profits. This figure was affected by measures introduced to reduce the credit burden since the start of the full-scale war.
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