Privatbank cannot be returned to ex-owners after nationalization, - Deputy Head of National Bank

Source : 112 Ukraine

Ukraine's key financial authority will be protesting against the court's decision, which stipulates that the nationalization was 'conducted with multiple law breaches'
18:12, 18 April 2019

Dzerkalo Tyzhnia

The National Bank of Ukraine had legal grounds for making the decision to nationalize Privatbank. Kateryna Rozhkova, the Deputy Head of National Bank, the NBU said this at a briefing on Tuesday.

'We're quite sure about the solid nature of our proof, the righteousness of the decision that we made and the clear grounds for making such a decision', Rozhkova said.

Related: Kyiv court grants oligarch Kolomoysky's claim against National Bank, Ukraine's govt

Previously, the NBU explained that Privatbank cannot be returned to ex-owners after nationalization. According to Rozhkova, currently, the only shareholder of this bank is the Ukrainian people.

On April 18, Kyiv-based court ruled that the nationalization of Privatbank in late 2017 was 'conducted with multiple law breaches'. The court, thus, granted the motion by Ihor Kolomoisky, the oligarch who appealed against the nationalization of the bank he had owned.

Related: Kolomoysky’s lawsuit on return of PrivatBank shares: Court postpones consideration for May 7

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