Mr. Boesch, how is PrivatBank doing after two years of war?
To put it bluntly, better than ever. We were able to significantly expand our market shares. As the largest state-owned bank, we have a different risk appetite than Western competitors. It makes no sense to reduce loan portfolios or terminate customer relationships. We have to support the country. If the country goes down, we will go down too.
Normally one would reduce risk positions in a crisis. You increased them?
If you are in Frankfurt, Vienna, Paris or Milan, it is a normal reaction to reduce risks in Ukraine in times of war. We are happy to take on customers, especially since they often have a very good risk profile.
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