PrivatBank increased its six-month net profit by almost 400%.

The state-owned PrivatBank’s net profit for January-June 2023 amounted to UAH 29.75B, which is 370% higher than the figure for the same period in 2022. According to a PrivatBank report, in the second quarter of this year net profit reached UAH 13.7B, 430% higher than the net profit for the second quarter of last year.

PrivatBank’s net interest income for the year’s first half increased by 81.4%, to UAH 27.86B. In the second quarter, the growth was 74.2%, to UAH 14.09B. Meanwhile, this year’s net commission income in January-June increased 41.3% to UAH 11.64B, and in the second quarter by 43.65%, to UAH 5.94B.

A significant contribution to the bank’s financial performance was made by reducing impairment loss in the first half of this year to UAH 769M. In contrast, in the same period last year, this figure was UAH 7.54B.