PrivatBank`s Q1 profit up by 35 times

Ukraine`s largest bank PrivatBank posted a profit of UAH 211 million in the first quarter of 2016, which is 35 times higher compared to a profit of UAH 6 million in the same period last year, according to the bank`s financial reporting published on its website.
According to the report, the bank`s assets have expanded by 4.5% since the beginning of the year to UAH 275.711 billion, and liabilities increased by 4.9% to UAH 247.922 billion.
As UNIAN reported earlier, PrivatBank posted a UAH 267.698 million in profit last year.
On December 31, 2015 PrivatBank repaid refinancing loans issued by the National Bank of Ukraine to the tune of UAH 1.064 billion, received in 2014-2015.
In November 2015, PrivatBank successfully completed the transaction on extending the $220 million subordinated debt on international markets until 2021.
Also, PrivatBank successfully completed its recapitalization program based on results of stress tests conducted in 2014.
UNIAN memo. Dnipropetrovsk-based PrivatBank has been operating on the Ukrainian market since 1992. It is the largest bank in Ukraine in terms of assets. Its key shareholders are Hennadiy Boholiubov and Ihor Kolomoisky, who directly and indirectly own 45% of the bank`s capital each.

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