In 2024 PrivatBank continued its sustainable development and focused on strengthening the customer centric culture. The Bank was quick to respond to changes in the external environment, customer demand, and government initiatives to support households and businesses in Ukraine.
PrivatBank not only developed existing credit programs for Ukrainians, small and medium-sized businesses, and corporate clients, but also focused its efforts on supporting energy independence, food security, and export industries. In particular, the bank was one of the first to support government initiatives for lending to alternative energy generation, joining the "National Cashback" program, which promotes demand for domestic goods. The Bank improved its existing products and developed a number of new innovative products, such as: “Envelop”, “Pryvit” loyalty program, “Terminal” app that makes acquiring easier and cheaper.
Since the beginning of the year, the bank's loan portfolio has increased by UAH 20,7 bln, exceeding UAH 112 billion.
According to the results of 2024, the bank's pre-tax profit reached UAH 81 billion, and the net profit was UAH 40,1 billion, an increase of 6%. Corporate tax paid to the budget makes UAH 40,9 bln.
Client confidence in PrivatBank continued to grow steadily. In 2024, the assets of the customer accounts increased by more than 10%.
Net interest and fees as well as commission income remain the backbone of PrivatBank’s financial performance, and stable volumes prove the efficiency of the bank`s business model.
The high quality of credit risk management keeps the costs of forming additional provisions for the bank's loan portfolio under control.
Operating costs increased by only 8% compared to 2023, which is much lower than the inflation.
Being a leader in the banking sector, PrivatBank has demonstrated a high level of responsibility doing business and its strong social position. Development of the barrier-free environment is one of the bank’s priorities. In 2024, the first 10 branches with increased accessibility were opened across Ukraine, and almost 100% of the bank's branches have been audited for compliance with the State Building Standards for access to premises. Developing customer-centricity as a key value of PrivatBank, Privat24 and Privat24 for Business now offer the option of video consultations with bank employees in sign language.
Since the beginning of the year, PrivatBank transferred UAH 247,22 million to charity, which was aimed at helping hospitals and medical institutions, strengthening the country's defense capabilities, social projects, as well as supporting employees.
"The results of 2024 are truly remarkable, reflecting a year of growth, development, and resilience. It is impressive how challenges were turned into opportunities, and new ideas were brought to life - to eventually strengthen and support the national economy,” says Mikael Björknert, Chairman of the Board of PrivatBank. - “As I step into the role of Chairman of the Board, I am inspired by our ambitious plans for 2025. Together with our customers and partners, I am confident we will achieve even greater success and set new benchmarks for excellence in the year ahead.”
Deputy Minister of Finance of Ukraine, Yuriy Draganсhuk, also highly praised PrivatBank’s performance in 2024: "Once again, PrivatBank demonstrates exceptional resilience and efficiency, delivering record-breaking financial results and substantial tax contributions to the state budget of Ukraine. For 2024, the bank will transfer over UAH 40.9 mln of corporate income tax, which will have a direct positive impact on the country's macroeconomic stability. PrivatBank remains a reliable financial backbone of the state, as its operations, even amid wartime conditions, not only ensure the stability of the banking sector but also directly support defense funding and social programs. This example of effective state-owned bank management serves as a strategic benchmark for the development of Ukraine’s financial system," said Yuriy Draganchuk.
