PrivatBank posts a record profit of $1.11 bln

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PrivatBank posts a record profit of $1.11 bln 1

PrivatBank posts a record profit of $1.11 billion in the first nine months of 2019, according to Board Chairman Petr Krumhanzl.

Commissions netted the bank $539 million in revenue while interest income generated $596 million. PrivatBank was nationalized in Dec. 2016, after the previous ownership group, led by Ihor Kolomoisky, put the bank $5.5 billion in the red.

Read also: IMF will not tolerate the denationalization of PrivatBank

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