KIEV, May 15 – President Petro Poroshenko on Sunday defended his bank for making handsome profits this year, suggesting it was due to a change in regulation. He said the figures were checked by the National Bank of Ukraine.

International Investment Bank (IIB), in which Poroshenko owns 60% stake, expanded profits 190% on the year to 26.8 million hryvnias in Q1 from 8.99 million hryvnias in Q1, 2016.