During the first eight months of 2014, Privat Bank’s tax and mandatory payments on taxable income increased by one third over the bank’s taxable income for the previous year, jumping from $1.6 billion to $2.1 billion.
The bank reported an increase of $3.8 million on the amount of tax on personal income by adjusting bank employees’ pay with inflation. Over the first eight months of 2014, the bank’s total wage fund grew by $180 million.
The bank became the largest donor ever to the Deposit Guarantee Fund, with $49.4 million deposited since January.
The bank predicts that its deposits in the Deposit Guarantee Fund will exceed $1 billion.The Deposit Guarantee Fund protects the rights of individual bank depositers. It is administered by the Ukrainian government.