EBRD fully supports decision to nationalize PrivatBank

Source : 112 Ukraine

Long-term stability of Ukraine’s largest bank is vital for healthy economy, - statement of EBRD president
12:51, 19 December 2016


European Bank for Reconstruction and development (EBRD) fully supports the decision of the Ukrainian government to nationalize PrivatBank to protect its depositors. Suma Chakrabarti, the EBRD president, said this in his statement released by the Bank’s press service on Monday.

‘I decisively support the decision of the government to nationalize PrivatBank and thus protect both private depositors and legal entities. The long-term stability of PrivatBank, Ukraine’s largest bank, is absolutely necessary for the healthy economy,’ he said.  

Chakrabarti underlined that the EBRD is ready to provide the government with expert assistance. ‘We support the efforts of the National Bank to reform the financial sector and set the due management in this area. Ukraine can definitely count on EBRD’s support here,’ he said.  

As 112 International reported, the Ukrainian government supported the initiative of the National Bank to nationalize PrivatBank, Ukraine’s largest non-state-run bank.    

Related: Poroshenko: Ukraine guarantees Privatbank clients safety of their money

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Related: Ministry of Finance of Ukraine: PrivatBank to be sold after its stabilization

Related: Head of the National Bank of Ukraine: PrivatBank eurobonds to be bailed in

Related: PrivatBank suspends servicing entities for 24 hours

Related: Ukrainian government nationalizes PrivatBank

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