PrivatBank in January-March saw its net profit rise 3.52-fold, to UAH 744 million, the bank said in the information disclosure system of the National Commission on Securities and the Stock Market.
Its net interest income increased by 22%, to UAH 959 million. After sending UAH 2.337 billion to the reserves for bad loans, the bank’s net interest loss amounted to UAH 1.378 billion against UAH 574 million of net interest income in the first quarter of 2016.
Net commission income increased by 37.8%, to UAH 2.058 billion.
In addition, the bank saw UAH 1.377 billion of income as a result of operations with securities (UAH 909 million in January-March 2016), UAH 480 million of income from operations with foreign currency (UAH 161 million in losses) and UAH 294 million of income from revaluation of foreign currency (UAH 580 million of loss).
Administrative expenses of the bank in the reporting period rose by 3.6%, to UAH 2.143 billion.
The bank’s assets for the first three months decreased by 9.3% and amounted to UAH 224.19 billion, including the reduction in loans and customers’ debts by 5.1%, to UAH 45.802 billion. (Interfax-Ukraine/Business World Magazine)