PrivatBank records record net profit in 2023

In 2023, PrivatBank, a state-owned bank, showed impressive financial achievements, earning a net profit of UAH 37.76 billion. This figure exceeds the financial result of 2022 by UAH 7.6 billion.

The bank announced these impressive results in its statement, which indicated that the bank's net interest income as a whole increased by UAH 19.7 billion. It is important to note that UAH 3 billion of this amount was determined by the regulator's interest rate policy during 2023, raising the bank's net interest income to UAH 59.6 billion. Over the same period, net fee and commission income increased by 20%, reaching UAH 24.4 billion.

"In the context of active business growth, operating expenses only increased by 8%, remaining under strict management control," the official statement said.

According to the state-owned bank, pre-tax profit reached UAH 72.8 billion, up from UAH 34.8 billion in the previous year. These strong financial results indicate a steady improvement in the financial stability and successful conduct of PrivatBank's banking activities.