Payments on ‘toxic’ loan portfolio of PrivatBank almost halved in 2019

Payments on the "toxic" portfolio of PrivatBank loans (Kyiv), issued to the companies and individuals related to the former owners and top management of the bank, fell to UAH 995 million in 2019 compared to UAH 1.907 billion a year earlier, deputy chairman of the bank board Halyna Pakhachuk has said.

"Over the past year, we managed to get UAH 995 million through a comprehensive recovery: UAH 192 million within the principal of the debt and UAH 802 million in interest," she told reporters.

The banker clarified that in 2018 interest payments amounted to UAH 1.157 billion, and principal payments to UAH 750 million.

According to her, after the decision on nationalization on December 18, 2016 and until the end of 2017, PrivatBank received UAH 4 billion of interest and UAH 1.287 billion in principal, while the bank as a whole paid more than UAH 14 billion for all attracted funds.

Pakhachuk said that at the end of 2019, the total "toxic" portfolio amounted to UAH 211 billion and was reserved by 98.7%, including UAH 128 billion due to government bonds provided by the government.

She said that of this amount, the so-called transformation portfolio accounts for UAH 139.9 billion (100% reserved), gas station and oil depot leasing amounted to UAH 11.1 billion (84% reserved), the Cypriot branch to UAH 22.6 billion (reserved by 96%), related corporate clients to UAH 25 billion (99% reserved), Claresholm marketing LTD to UAH 11.2 billion (100% reserved), PrivatOffice to UAH 2.7 billion, the former bank management to UAH 400 million.

Source: www.en.interfax.com.ua