Economy 2021-05-15T08:41:26+03:00
Ukrainian news
PrivatBank May Be Nationalized If Fails To Fulfill Capital-Increase Program - NBU

PrivatBank May Be Nationalized If Fails To Fulfill Capital-Increase Program - NBU

NBU, program, PrivatBank, nationalization, Dmytro Solohub, capital, authorized capital

The National Bank of Ukraine (NBU) does not rule that PrivatBank may be nationalized if it fails to fulfill the capital-increase program.

NBU Deputy Governor Dmytro Solohub said this at, Ukrainian News Agency reports.

"We've always been stating two ways when a bank is not fulfilling the capital-increase program or if the shareholders are unable to fulfill it: insolvency for non-systematically important and nationalization for systematically important banks," he told.

There are three systematically important banks in Ukraine now: state-owned Oschadbank and Ukreximbank, and private PrivatBank.

In August, PrivatBank decided to increase its authorized capital by 12% or UAH 2,583 million to UAH 21.26 billion.

Solohub also cited NBU Deputy Governor Kateryna Rozhkova who said on October 21 that the central bank is now verifying the capital-increase programs.

As Ukrainian News Agency earlier reported, mass media have reported alleged nationalization of PrivatBank.

The bank refuted these reports and called them a fake.

PrivatBank recorded a profit of UAH 216 million for 2015 and UAH 530.9 million for H1 2016.

Businessman Ihor Kolomoiskyi owns 41.66% of shares in it and businessman Hennadii Boholiubov 33.252,5%.

Information from the NBU, as of July 1 the bank ranked 1st in terms of the amount of assets (UAH 268.9 billion) among the 101 operating banks.