The net profit of state-owned PrivatBank, Ukraine’s largest bank, amounted to UAH 40.141 billion in 2024, up 6% from 2023, the bank said at a briefing in Kyiv on Tuesday.
“Net interest income increased by 12% to UAH 66.89 billion, net commission income by 14% to UAH 27.77 billion,” said Larysa Chernysheva, Deputy Chairman of the Board and CFO, Interfax-Ukraine.
She clarified that the results are preliminary and should be confirmed by an audit, which is expected in March.
According to her, after the audit, the bank will allocate 80% of its net profit for dividends for 2024, which will tentatively amount to UAH 32.113 billion, compared to UAH 30.211 billion last year.
Chernysheva specified that pre-tax profit in 2024 increased by 11.3% to UAH 81.004 billion, while operating expenses increased by 8% to UAH 21.32 billion.
“In 2024, the bank will pay over UAH 40.9 billion in income tax, which has a direct positive effect on the country’s macroeconomic stability,” Deputy Minister of Finance Yuriy Draganchuk emphasized during the briefing.
Since the beginning of last year, Privat’s net loan portfolio has increased by UAH 20.7 billion to UAH 112.8 billion. Funds on customer accounts increased by more than 10% during this time, bringing deposits and balances to UAH 621.6 billion.
PrivatBank ended last year with assets of UAH 761.7 billion, which, according to the National Bank of Ukraine, is 13.4% less than the bank’s total assets as of January 1, 2024, which amounted to UAH 879.8 billion.
The financial institution reported that operating expenses increased by 8% compared to 2023, which is lower than annual inflation.
The bank estimates its active client base at 18.32 million individuals and 910 thousand business clients in 2024. The number of users of the Privat24 mobile application amounted to 13.76 million people.
According to Privat, the bank’s branch network consisted of 1163 outlets at the end of 2024, while at the beginning of last year, according to NBU statistics, it had 1132 outlets.
The financial institution’s infrastructure includes 6.86 thousand ATMs and 10.42 thousand terminals. At the same time, the number of Privat’s POS terminals amounted to more than 316 thousand at the end of 2024.
