On May 30, 2024, in Kyiv, the leadership team of PrivatBank and representatives of the shareholder presented an integrated report on the results of the state-owned bank's activities for 2023, in the areas of business, social support and sustainable development goals.
In 2023, the bank earned a record pre-tax profit of UAH 72.8 billion and paid UAH 57 billion to the state in the form of income tax and dividends. In total, the bank has already returned almost UAH 180 billion to the state in the form of dividends and taxes in 2018-2023.
The bank ensured strong financial results and sustainability by continuing to support the economy. The net loan portfolio of business customers has doubled since the beginning of the full-scale invasion. The bank entered the top 50 acquirers in the world, and thanks to the efforts of its team, Ukraine became the third country in Europe where entrepreneurs got the opportunity to accept payments using the tap to pay function on the iPhone.
The bank retained its leadership in retail lending, increasing its loan portfolio by 39% (UAH 17 billion). It also offered its 18.4 active users socially relevant services. In particular, a new card product for fundraising and budget planning. The “Envelopes” service can be used by volunteers as a card with the receipts analytics, while ordinary users can use auto-accumulation services and add friends to accumulate funds together.
To ensure the reliability and security of its services, the bank continued to invest in cybersecurity and modernized its IT infrastructure. In 2023, PrivatBank adopted a multi-cloud strategy (working on different platforms such as Amazon Web Services and Google Cloud Platform), which now supports some of our critical data analytics and end-user computing solutions. We also invest in the physical infrastructure and security of our employees. More than 800 generators have been installed in various types of bank premises. Almost 4000 workplaces are equipped with shelters.
“This year, we are talking not only about financial achievements, but also about the social significance of PrivatBank. We not only support the economy with reliable financial services, but also actively engage in community life through numerous social projects, through unification, promotion of inclusiveness and a society without barriers,” summarizes Gerhard Boesch, Chairman of the Management Board of PrivatBank.
In 2023, PrivatBank donated UAH 307.5 million of its own funds to charity, which were used to strengthen the country's defense capabilities and provide humanitarian support. We also provided the services (Privat24, ATMs, SSTs, bank cash desks, dobro.privatbank.ua website) and the communication support for charity events in partnership with reputable charitable and public organizations, as well as quite significant personal charity supports to its own fund and other NGO`s to strengthen the country defense capabilities and humanitarian support.
“The coordinated work of the state and state-owned banks is very important in the context of martial law and major challenges. PrivatBank has once again confirmed its reliability and operational efficiency. The financial indicators demonstrate the effective management of the bank's resources and its high responsibility to the state and the public,” said Yuriy Draganchuk, Deputy Minister of Finance of Ukraine for European Integration.
