The Cabinet of Ministers at its extraordinary meeting on Sunday, December 18, decided to transfer Ukraine`s largest bank, PrivatBank, to 100% state ownership.
The Ukrainian banking system is stable, while the nationalization of Ukraine`s largest bank, Privatbank, conducted according to the government decision, poses no threat, that`s according to first deputy head of the NBU Yakov Smoliy, who spoke at a briefing at PrivatBank Headquarters in the city of Dnipro Monday.
”We are not noting any client hyperactivity. The National Bank will make every effort to reinforce the liquidity of the bank, in order to ensure smooth operations of the bank [PrivatBank] and the entire banking system. I am also informing you that I have talked with the heads of the board of other banks. They note stability of the banking system, while no unforeseen situations in the banking system are observed at the moment,” Smoliy said.
Earlier, the Cabinet of Ministers at its extraordinary meeting on Sunday, December 18, decided to transfer Ukraine`s largest bank, Privatbank, to 100% state ownership.
The decision was made based on the results of the meeting of the National Security and Defense Council on the proposal of the National Bank of Ukraine. However, Finance Minister Oleksandr Danyliuk pointed out that PrivatBank would continue to operate as usual, and the new management team would be formed in the coming days.
See also: President Poroshenko: PrivatBank clients guaranteed safety and integrity of their funds. Video
PrivatBank (the city of Dnipro) has been operating on the Ukrainian market since 1992 and now it is Ukraine`s largest bank in terms of assets. International banking group PrivatBank serves over 22 million corporate and individual clients in 10 countries.