On Wednesday, May 13, Visa Token Service added 28 new international partners to enhance the security of digital payments, including Portmone payment system and state-owned PrivatBank.
“These new partners will contribute to make digital transactions safer using tokens of both one-time and recurring payments based on Visa accounting data. Tokenization replaces the 16-digit Visa cardholder account number with a token, which just Visa can unlock, protecting the main card number from defrauders,” Business Wire said.
State-owned PrivatBank intends to involve an adviser in the preparation and sale of the financial institution’s shares in Bukovel, the largest ski resort in Ukraine, Deputy Head of PrivatBank Halyna Pakhachuk has said. “The bank owns two-thirds of the complex, which consists of 64 facilities, one-third is Skorzonera LLC,” she said.
Pakhachuk reported that this list of objects is not an integral property complex; in addition to the hotel, it includes 104 hectares of land and part of the lifts.
According to the deputy head of PrivatBank, when these objects were initially put on the bank’s balance sheet, their value was estimated at UAH 12.6 billion, including the Radisson Blu Bukovel hotel (Zirka Bukovelia) at UAH 1.62 billion, but their real market value differs from these indicators.
Pakhachuk also said that in recent years the bank has been renting its facilities in Bukovel to the Parktur LLC resort operator (Polianytsia, Yaremche, Ivano-Frankivsk region). In 2019, the rent amounted to UAH 110.5 million, including UAH 47.5 million per hotel, and in 2020 it will increase to UAH 117.5 million, including UAH 50.5 million per hotel.
The deputy head of the bank reminded that these facilities are non-core for the financial institution, and according to the standards introduced by the National Bank in the future, they will have to be taken into account at zero cost.
Radisson Blu Bukovel hotel increased its net income by 9.1%, to UAH 221 million, and the net loss decreased by 36.7%, to UAH 39.33 million in 2018. According to the state register, the beneficiaries of this enterprise are former owners of PrivatBank Ihor Kolomoisky and Hennadiy Boholiubov.
The revenue of Parktur LLC increased by 71.9%, to UAH 425.35 million, net profit increased by 6.2 times, to UAH 86.14 million in 2018, the owner is Vitaliy Kovalchuk, registered in Kolomyia (Ivano-Frankivsk region).
From February 14, state-owned PrivatBank (Kyiv) has cut basic interest rates for all programs for financing entrepreneurs and small businesses by 2-3 percentage points (p.p.), according to the bank’s press release issued on February 17.
The press service of the bank told Interfax-Ukraine that the interest rate under the KUB (Country of Successful Business) program was cut by 2 p.p. to 18% per annum, rates on the Entrepreneurial and the Credit Line on the Account credit lines – by 3 p.p. to 27% and 18%, respectively.
In addition, rates on business mortgage were cut by 3 p.p. (to 16% per annum), on loans secured by deposits (to 13% per annum) and on investment credits (to 16% per annum).
The rates were cut by 3 p.p. to 16% per annum on the Agroseason credit line and on loans for the purchase of agricultural equipment under state programs.
As reported, PrivatBank plans to allocate at least UAH 10 billion for financing programs for Ukrainian entrepreneurs in 2020.
On December 18, 2016, the government of Ukraine, referring to the proposal of the National Bank of Ukraine (NBU) and the former shareholders of PrivatBank, decided to nationalize the largest financial institution on the Ukrainian market and pumped more than UAH 155 billion into its capital.
PrivatBank ranked first among 75 banks in terms of total assets (UAH 552.058 billion) on January 1, 2020, according to the NBU
State-controlled PrivatBank headed the rating of the most profitable Ukrainian banks in 2019, declaring UAH 32.609 billion in net profit, while Pravex-Bank recorded the largest loss last year at UAH 121.502 million.
According to the National Bank of Ukraine (NBU), Raiffeisen Bank Aval (UAH 4.749 billion) ranked second in the list of the most profitable banks, and FUIB (UAH 2.623 billion) was third, rising two positions in the fourth quarter. UkrSibbank (UAH 2.580 billion) ranked fourth, while OTP Bank (UAH 2.537 billion) ranked fifth, rising two lines.
At the same time, state-controlled Ukreximbank fell from the fourth position it held in the nine months of 2019, to the 11th one, declaring UAH 1.002 billion of net profit, and Ukrgasbank climbed six positions, to the 10th one, posting UAH 1.299 billion.
According to the central bank, Sky Bank ranked second in terms of losses, its net loss amounted to UAH 27.543 million, Alpari Bank ranked third (UAH 18.435 million), Cominvestbank (UAH 17.982 million) ranked fourth, while Ukrainian Bank for Reconstruction and Development ranked fifth (UAH 4.409 million). At the same time, Bank Credit Dnipro, which according to the results of its activities for the first nine months of 2019 was third in terms of loss, declared UAH 309.903 million in net profit and ranked 18th.
Nationalized PrivatBank (Kyiv) in January-September 2019 saw net profit rise to UAH 27.4 billion from UAH 5.093 billion for the same period in 2018, which became a new absolute figure for the bank and the entire banking system of Ukraine, according to a press release from the bank.
According to the bank, its net commission income for the nine months amounted to UAH 13.3 billion, net interest income some UAH 14.7 billion.
As reported, the net profit of PrivatBank (Kyiv) in January-June 2019 amounted to UAH 18.3 billion, which is 2.7 times more compared to the corresponding period of 2018 (UAH 6.9 billion).
Net interest income for the six months amounted to UAH 9.8 billion, net commission income some UAH 8.5 billion.
The government of Ukraine on December 18, 2016, referring to the proposal of the NBU and the former shareholders of PrivatBank, the largest of whom at that time were Ihor Kolomoisky and Hennadiy Boholiubov, decided to nationalize this largest financial institution in the Ukrainian market and invested over UAH 155 billion in its capital.
PrivatBank ranked first among 76 banks operating in the country as of July 1, 2019 in terms of total assets (UAH 522.422 billion), according to the National Bank of Ukraine.
