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PrivatBank approaches to profit making
The financial performance of PrivatBank (Kyiv), which was nationalized a year ago, is better than it was expected first thanks to the reduction of interest expenses, Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova has said.
"This allowed the bank actually reach a nil, while earlier it saw operation loss," she said at a press conference in Kyiv on Monday.
Rozhkova said that the improvement of PrivatBank's indicators is linked to stirring up crediting, increase in revenue from credits issued to the public and small business and a large rise in commission fee revenue.
She said that the improvement is seen with the absence of a strategy for the development of the state-owned banks, the approval of which is being delayed by the government. This could be linked to the improvement of the corporate governance of the bank, the inclusion of independent directors to its supervisory board compared with other state-owned banks.
Rozhkova said that the situation in other state-owned banks is not so optimistic.