PrivatBank, the largest commercial bank in Ukraine, saw a 4.8-fold profit rise in 2015 to UAH 230 million, according to audited data.
Total assets for PrivatBank increased by 21.6 percent in 2015 to UAH 258.686 billion. Cash more than doubled to UAH 29.631 billion; non-current liabilities increased by 29.5 percent to UAH 159.5 billion; and current liabilities by 27.8 percent to UAH 58.625 billion.
PrivatBank‘s net worth increased 12.9 percent to UAH 27.656 billion, including a 17.4 percent increase of charter capital to UAH 21.257 billion.
PrivatBank decreased the number of employees by 2,983 to 20,936 people over the last year.
PrivatBank is holding a general meeting of its shareholders later in April.
PrivatBank was founded in 1992. Its largest
shareholders were Hennadiy Boholiubov and Ihor Kolomoisky as of January 1, 2016. The bank ranked first among the 123 operating banks in the country as of October 1, 2015, in terms of total assets worth UAH 241.809 billion, according to the National Bank of Ukraine.
Privat24, PrivatBank‘s revolutionary electronic payment system, has become the most popular application for Samsung’s Galaxy Gear S2 smart watch among Ukrainian users, according to Samsung Electronics.
The Privat24 app allows any Samsung smart watch user to make contactless payments for purchases in retail stores in Ukraine as well as all over the world.
The contactless payments is a hassle-free option which allows users to simply show the watch display to a card reader when making purchases rather than exchange cash or swipe a card. The user’s bank information, already stored in the app, is then charged.
Privat24 contactless payments via smart watches are available for use in over 55,000 outlets with MasterCard and PayPass in Ukraine, including on the subway and express tramway stations in Kiev.
There are five other applications from Ukrainian developers in the top twelve for the smart watch including a foreign exchange rate guide, ATM locator, taxi ordering service, patriotic skins, and UA Life.
Find out more at Privat24.
PrivatBank, the largest commercial bank in Ukraine, has launched its own online platform called PrivatMarket. The platform is aimed at bringing buyers and suppliers together for both private and business clients of PrivatBank.
PrivatMarket, now live, offers buyers “the largest directory of companies in Ukraine” where they can publish tenders, requests, and read reviews about potential suppliers. Sellers can post information about their company, products and services, and participate in tenders and applications.
In November of last year, PrivatBank partnered with the public procurement system ProZorro for client tenders. “All tenders that will be held via ProZorro will be available for clients of [PrivatBank] via Privat24 and PrivatMarket,” said deputy board chairman and Chief Information Officer Dmytro Dubilet.
PrivatMarket enters the market as a strong competitor to existing online marketplaces but Dubilet is confident they stand apart. “To some extent we are going to compete with them. On the other hand, our service is easier to use and we have a serious integration with our banking services and our mobile payments app Privat24,” said Dubilet.