The national Bank of Ukraine (NBU) on the evening of December 18, acknowledged PrivatBank insolvent. This was at the briefing said the Chairman of the NBU Valeria Gontareva.
“After the government’s decision on nationalization of the national Bank PrivatBank recognized financial institution is insolvent,” she said.
According to Gontareva, the NBU, PrivatBank aware of the problem and given the importance of it as a Bank system for the health of the financial sector and the economy as a whole, appealed to the government to transfer it to state ownership.
Shareholders who are unable to complete the recapitalization program, sent a letter to Cabinet with a request for entry of state capital in financial institutions. “Shareholders have undertaken to restructure the loans granted to legal entities by the Bank, subject to the requirements of the National Bank, until July 1, 2017,” – said Gontareva.
See also: the Nationalization of PrivatBank: quick facts