The Acting Minister of Finance Oksana Markarova has signed an order approving the Development Strategy of JSC CB "PrivatBank", earlier endorsed by the financial institution’s independent Supervisory Board.

The  document envisages, in particular, the introduction of an effective risk  management system, solving the problem of non-performing loans, as well  as a number of organizational and corporate governance changes aimed at  improving efficiency and reducing costs.

"We believe that the practical implementation of the strategy will help consolidate the bank's strengths and positions on the market, while providing an acceptable level of profitability on a par with the best players. The independent Supervisory Board of the Bank will guarantee the implementation of the approved development strategy," noted the Acting Minister of Finance Oksana Markarova.

According to the key indicators set out in the document, in 2022 the PrivatBank  plans to receive UAH 8.4 bln net profit and will be ready for the exit  of the state from control stock. The total shareholder return during the  period from 2018-2022 will amount to UAH 81 bln, not including the  funds PrivatBank is determined to recover through the courts.