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PrivatBank's net profit down 12% in 2008

23 January, 15:29 | Interfax-Ukraine
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The net profit of the largest Ukrainian bank, Dnipropetrovsk-based PrivatBank in 2008 was UAH 1.352 billion, which is 11.9% down year-over-year (UAH 1.534 billion), according to tentative data posted on bank's Web site.

The bank's net profit in Q4 2008 was UAH 560.166 million, which is 39.8% less year-over-year (UAH 930.061 million). In Q3 its net profit was UAH 52,558 million, while in Q2 it was UAH 384.249 million, and in Q1 it was UAH 354.682 million.

Its total assets in 2008 soared by 42.7%, to UAH 80.212 billion. Credits issued to individuals reached UAH 25.609 billion, and those issued to legal entities were UAH 46.879 billion. Interbank credits accounted for UAH 7.102 billion.

Its total commitments in 2008 grew by 41.6%, to UAH 71.956 billion. Deposits of individuals reached UAH 27.044 billion, those of legal entities UAH 11.905 billion, National Bank of Ukraine credits UAH 3.41 billion, and credits from international financial organizations UAH 5.438 billion.

The bank's statutory capital in 2008 jumped 2.1 times, to UAH 5.685 billion.

PrivatBank, the largest bank in Ukraine in terms of total assets, was founded in 1992. In November 2008, the key shareholders in the bank – Ihor Kolomoisky and Hennadiy Boholiubov – built up their share in the bank to 97.88% (49.02% and 48.86%).

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