OREANDA-NEWS. December 18, 2012. Ukrainian PrivatBank has ranked among the world leading banks given the "Bank of the Year 2012" status. According to representatives of the authoritative British magazine The Banker, the expert committee of "Bank of the Year Awards 2012" made this decision following the assessment of the bank’s performance for the nine-month period this year. The bank’s management received one of the most prestigious banking awards - the bronze statuette of the founder of The Banker magazine Brendan Bracken, at a special ceremony held on November 28th in London.

The Banker experts note that the recognition of PrivatBank as "The Bank of the Year" once again became the next confirmation of its market development strategy’s success and the evidence of its good asset quality and effective risk management. Innovative technology projects enhanced PrivatBank to increase the number of customer transactions by 57%. Household deposits' attraction is the another important advantage of this strategy. This steady source of funding will allow PrivatBank to take an active part in the development of the national economics.

Annually experts from the leading financial magazine The Banker (from The Financial Times group) determine "The Bank of the Year" winners among financial institutions from 150 countries. Over 530 banks all over the world struggled for this prestigious award this year. All the banks were assessed by a group of criteria including both qualitative factors (profitability, asset quality and financial stability) and quantitative ones (large capital formation, M&A deals, implementation of new technologies, services or new trends of business).