PrivatBank's nationalisation declared unlawful after the bank published stellar FY18 results - Credit Report

21 May 2019

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PrivatBank, the largest Ukrainian bank by assets, reported its FY18 annual results on 21 March 2019. The bank managed to boost its profit for the year to UAH 12.8bn from UAH 406m in FY17, to increase its liquid assets to UAH 192.9bn from UAH 28.2bn in FY17 and to grow its total assets by 9.6% YoY to UAH 278.1bn. This stellar performance comes on the back of increased control over the bank since its nationalisation in 2016 and a series of recapitalisation tranches from the National Bank of Ukraine (NBU) aimed to cover the UAH 113bn capital shortfall discovered during the stress test in 2015 that widened to UAH 148bn by end-FY16.