Cabinet of Ministers of Ukraine officially announced nationalization of Kolomoisky’s Privatbank

01:54, 19.12.2016Economics

The Privatbank, one of the owners of which is the Dnepropetrovsk oligarch Igor Kolomoisky, becomes the property of the state, reports the website of the Cabinet of Ministers of Ukraine.

‘At a meeting on Sunday, the Cabinet of Ministers examined issues of ensuring stability in the financial system of the country. Taking into account the results of the meeting of the National Security and Defense Council of Ukraine, the Government supported the proposal of the National Bank and the Financial Stability Board on the transition of the PJSC «Privatbank» into hundred percent state ownership.

It is envisaged that the state represented by the Ministry of Finance, will be the owner of 100% shares of the PJSC "Privatbank" and ensure the smooth functioning of the institution and the preservation of assets of its clients.

These actions take place in the strict coordination with international financial institutions and with their support.

The National Bank Chairman, Valeriya Gontareva, who participated in the meeting of the government, and the Minister of Finance, Alexander Danyluk, informed members of the Cabinet of Ministers that the private shareholders of the PrivatBank had appealed to the government with a proposal so that the government, in the interests of the bank's clients, become its full owner.

The transition period begins on December 19. The state will ensure a smooth transition and the stable operation of the institution in the mode normal for its customers. The Government based its decision on the fact that the responsible decision taken by them saved both the Privatbank and the entire banking system,’ the report says.

According to: Политнавигатор