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PrivatBank sees 2.5 times fall in profit in 2014

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PrivatBank (Dnipropetrovsk), which is the largest bank in Ukraine, saw profit of UAH 749.036 million in 2014, which is 2.5 times down on 2013 (UAH 1.873 billion), reads a quarterly report from the bank.

According to the report, in Q4, 2014 its profit came to UAH 322.08 million.

Net interest-bearing income in 2014 amounted to UAH 10.348 billion (UAH 2.657 billion in Q4, 2014), which is 22.5% up on 2013 (UAH 8.444 billion).

Total assets grew by 9.8%, to UAH 113.682 billion, including a rise of 25.7% in loans and client debts, to UAH 64.8 billion.

Reserves for overdue credits grew by 18%, to UAH 15.027 billion or 23.2% of the sum of loan and client debts (24.7% as of early 2014).

The bank’s charter capital rose by 10.7%, to UAH 18.101 billion, and net worth was up by 11.7%, to UAH 22.696 billion.

The bank said that as of early 2015, its largest shareholders were Hennadiy Boholiubov and Ihor Kolomoisky (36.998% each) and Triantal Investments Ltd (16.23%).

The bank was established in 1992.

As of October 2014, in terms of assets the bank was the largest (UAH 201.9 billion) among the 166 banks operating in Ukraine.

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