Financial statements

PrivatBank compiles its financial statements in compliance with international financial reporting standards and the regulations issued by the National Bank of Ukraine. The purpose of the Bank’s financial statements is to provide a wide range of users with accurate and unbiased information on assets, liabilities, equity, income and expenses (including profits and losses) cash flows and other related data to make economically sound decisions.

The selection of the audit company for the bank’s financial audit in compliance with the IFRS is made on the annual basis. An independent auditor is selected in accordance with the Procedure on selection of the audit company, which was approved by the minutes of the Bank's Supervisory Board No. 68/22 dated 18/11/2022. The results of the analysis with the proposals from the management, are submitted for consideration by the Audit Committee of the Bank Supervisory Board. The Supervisory Board makes a decision that becomes the basis for the audit contract for the following year.

According to the results of the competitive selection of an independent auditor to provide services for the mandatory audit of the annual financial statements of JSC CB "PrivatBank" for the years 2023-2025, with the option to extend the service provision for the next two years, has been selected PJSC "KPMG Audit".

Procedure on selection of the audit company

The bank keeps a record and organizes theaccounting of its operations pursuant to the internal accounting policy and the International Financial Reporting Standards. The bank acts in compliance with the requirements set by the Ukrainian legislation, including the NBU regulations. The bank uses the uniform bank accounting rules applied in banks, based on the comprehensive automation and information technologies. The bank submits its balance sheets, reports and other relevant data to the National Bank of Ukraine within the established timeframes, volumes and formats.