PrivatBank increased its loan portfolio by 18%, and profit by 11%: results of nine months of 2024

In the first nine months of 2024, the credit portfolio of PrivatBank grew by 18.4%, exceeding the mark of UAH 108.99 billion at the end of September. Such a significant indicator testifies to the stable dynamics of the bank's development even in difficult economic conditions. The third quarter confirmed the high level of business activity.

This was reported by the press service of PrivatBank, noting the important financial achievements of the institution during this period.

The bank's pre-tax profit for the three quarters of 2024 reached UAH 64.01 billion, which is an impressive result. The net profit was UAH 48.35 billion, which is 11.5% higher than last year. This testifies to the success of the bank's development strategy and its ability to adapt to difficult market conditions.

One of the key factors in the stable financial condition of PrivatBank is the high quality of the loan portfolio. Thanks to this, the bank practically does not need additional reserves to cover credit risks, which allows for effective cost control. In particular, the bank's operating expenses increased by only 4.8%, which is significantly lower than the inflation rate.

PrivatBank also actively supports social initiatives. Since the beginning of the year, the bank has transferred UAH 167.06 million to support hospitals, strengthen defense capabilities and other important social projects, demonstrating its contribution to society.

The chairman of the board of PrivatBank, Gerhard Bösch, noted that the bank's achievements are the result of the trust of clients, as well as a focus on client-centricity and the implementation of innovative solutions. This helps the bank to remain a leader even in difficult times.

Despite the challenges, in particular the energy crisis, PrivatBank continues to develop credit programs for the population, small and medium-sized businesses, as well as corporate clients, which confirms its stability and readiness to support the country's economic development.