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PrivatBank needs recapitalization, - head of National Bank of Ukraine
13:58, 16 March 2017
PrivatBank needs recapitalization, - head of National Bank of Ukraine

“The bank’s supervisory board has already applied for capitalization support,” the Head of the National Bank of Ukraine

13:58, 16 March 2017

 

NBU

The Head of the National Bank of Ukraine (NBU) Valeriya Hontareva states that the nationalized PrivatBank needs to be recapitalized. She announced that during the 13th Annual Investment Conference Dragon Capital in Kyiv, reports Ukrainian News".

The bank’s supervisory board has already applied for capitalization support,” she said.

She also reported that the banks’ capital demand was around 5 billion dollars when the procedure of nationalization started.

Related: National Bank offers to impose sanctions against banks with Russian capital

She also added that the development strategy for state banks needs to be renewed due to the nationalization of PrivatBank.

As it was reported earlier, Ukrainian government nationalized PrivatBank at the beginning of the week, the biggest Ukrainian bank. The Cabinet of Ministers made a late Sunday announcement on their official website hat the Ukrainian government acquired 100 percent of shares of PrivatBank.

Related: "Bricking-up" Sberbank: First step to persecution of Ukrainians of Russian origin?

The Head of the National Bank of Ukraine Valeriya Hontareva announced that this is not going to affect the inflation and the currency rates. According to her the regulating authority has the resource to insure currency from fluctuation.

Related: Security and Defense Council to consider sanctions against Sberbank of Russia on March 15

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