PrivatBank Makes Provisions For Restructuring Its Ex-Shareholders' Loans For 10 Years With Quarterly Interest Payments

PrivatBank made provisions for restructuring its former shareholders' loans for 10 years with quarterly interest payments.

PrivatBank Chairman of the Board Oleksandr Shlapak said this at a press conference, Ukrainian News Agency reports.

The bank's former shareholders are meeting the conditions arranged.

Shlapak does not rule out that the bank may need additional provisioning for these liabilities.

As Ukrainian News Agency earlier reported, PrivatBank is 100% owned by the State.

PrivatBank's former shareholders committed to have restructured corporate entities' loans before July 2017.