The net profit of the state-owned PrivatBank, the largest bank in Ukraine, reached 40.141 billion UAH in 2024, which is a 6% increase compared to 2023, the bank reported at a briefing in Kyiv on Tuesday.
"Net interest income grew by 12% to 66.89 billion UAH, while net commission income increased by 14% to 27.77 billion UAH," said the bank's Deputy Chairman and CFO, Larisa Chernysheva, as reported by an Interfax-Ukraine correspondent.
She clarified that these results are preliminary and will need to be confirmed by an audit expected in March.
According to her, after the audit, the bank will allocate 80% of its net profit for 2024 to dividend payments, which is preliminarily estimated at 32.113 billion UAH, compared to 30.211 billion UAH last year.
Chernysheva noted that profit before tax in 2024 rose by 11.3% to 81.004 billion UAH, while operating expenses increased by 8% to 21.32 billion UAH.
"For 2024, the bank will pay over 40.9 billion UAH in income tax, which has a direct positive effect on the macroeconomic stability of the country," emphasized Deputy Finance Minister Yuriy Draganchuk during the briefing.
The net loan portfolio of PrivatBank grew by 20.7 billion UAH since the beginning of last year, reaching 112.8 billion UAH. Client account funds during this period increased by more than 10%, resulting in deposits and account balances totaling 621.6 billion UAH.
PrivatBank finished the previous year with assets amounting to 761.7 billion UAH, which, according to the National Bank of Ukraine, is 13.4% less than the total assets of the bank as of January 1, 2024, which stood at 879.8 billion UAH.
The financial institution stated that operating expenses rose by 8% compared to 2023, which is lower than the annual inflation rate.
The bank estimates its active customer base at the end of 2024 to consist of 18.32 million individuals and 910 thousand business clients. The number of users of the bank's mobile application, Privat24, reached 13.76 million people.
According to Privat's information, the bank's branch network consisted of 1,163 points by the end of 2024, while at the beginning of last year, according to NBU statistics, it had 1,132 points.
The financial institution's infrastructure includes 6.86 thousand ATMs and 10.42 thousand terminals. Additionally, the number of Privat's POS terminals exceeded 316 thousand by the end of 2024.