PrivatBank to be listed for sale soon, - National Bank Head

Source : 112 Ukraine

According to him, the privatization of the PrivatBank will become an interest for the most prestigious international investors
17:20, 16 April 2021

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PrivatBank will be listed for sale as GlobalCapital reported citing Head of the National Bank Kyrylo Shevchenko.

“Our banking sector owns substantial potential for international investors. We expect that soon the international banking groups will purchase shares at the Ukrainian state banks. According to our plans, soon, the largest bank asset of Ukraine – PrivatBank – will be listed for sale. We believe that privatization of PrivatBank that owns 20% of the Ukrainian banking market will become an interest for the most prestigious international investors, including from the U.S. and the EU,” Shevchenko stated.

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He expressed hope that during five years, the share of the state in the banking system will reduce from 55% up to 25% and it will help the system to become more independent.

PrivatBank was nationalized in December 2016. It was recognized bankrupt and the state had to increase capital by 115 billion hryvnias ($4,109,030,500) to save the bank.

Related: World Bank improves forecast of Ukraine's economic growth in 2021

Ex-owners of the bank Ihor Kolomoysky and Hennadiy Boholyubov called the nationalization of the bank illegal.

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