The Ministry of Finance approves the Development Strategy of "PrivatBank" till 2022

6/27/18

The Ministry of Finance approved the Development Strategy of JSC CB "PrivatBank".

The document envisages, in particular, the introduction of an effective risk management system, solving the problem of non-performing loans, as well as a number of organizational and corporate governance changes aimed at improving efficiency and reducing costs.

"We believe that the practical implementation of the strategy will help consolidate the bank's strengths and positions on the market, while providing an acceptable level of profitability on a par with the best players. The independent Supervisory Board of the Bank will guarantee the implementation of the approved development strategy," noted the Acting Minister of Finance Oksana Markarova.

According to the key indicators set out in the document, in 2022 the PrivatBank plans to receive UAH 8.4 bln net profit and will be ready for the exit of the state from control stock. The total shareholder return during the period from 2018-2022 will amount to UAH 81 bln, not including the funds PrivatBank is determined to recover through the courts.

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