: :inin Kyiv (EET)

National Bank of Ukraine chief voices terms of PrivatBank stabilization

Head of the National Bank of Ukraine Valeria Gontareva has said that the stabilization process of the nationalized PrivatBank can take between one and three years, DT.ua reported.

”I think, PrivatBank will have its value and it could be sold… According to my calculations, it would take at least a year, but no more than three years,” Gontareva told Ukraine TV channel on Tuesday, December 20.

The head of the NBU also said that the composition of the Supervisory Board of PrivatBank would include foreign managers.

”The bank has not ceased to exist as a business, we have not sent it for a liquidation and we guaranteed the population [protection] of all deposits. Now the capital of the bank is formed by the government securities. A new strong management team and the Supervisory Board with foreign experts on it will come to help out with the transformation of this bank,” Gontareva said.

As UNIAN reported earlier, the Cabinet of Ministers at its extraordinary meeting on Sunday, December 18, decided to transfer 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.

Minister of Finance Oleksandr Danyliuk pointed out that PrivatBank would continue its operations as usual, and the new management team will be formed in the coming days. At the same time, he noted that the bank`s capital increase would take place in several stages. The maximum amount of capital increase would be UAH 148 billion, while the minimum amount would be no less than UAH 116 billion.

Also, Deputy Head of the NBU Yakov Smoliy said that the decision to nationalize PrivatBank had not affected the banking system and posed no significant threats to the financial stability of the State.

Earlier, both the President of the European Bank for Reconstruction and Development, Suma Chakrabarti, and Chief of the International Monetary Fund Christine Lagarde expressed support for PrivatBank nationalization.


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