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Privatbank aims to return to profit in 2018

PAO KB Privatbank will target a profit of over 4 billion Ukrainian hryvnia and a regulatory capital ratio of between 14% and 15% in 2018, the lender said Dec. 18.

The lender will also strive to remain the number one financial institution in terms of attracting client deposits, and expects to see growth in quality loans thanks to its participation in state lending programs, lending to small and medium-sized businesses, as well as active promotion of consumer lending.

The largest Ukrainian bank, which was nationalized by local authorities at the end of 2016, posted a net loss of 1.6 billion hryvnia for the first nine months of 2017, compared with a net profit of 592 million hryvnia in the year-ago period, Delo.ua noted.

As of Dec. 18, US$1 was equivalent to 27.87 Ukrainian hryvnia.