Major tasks of the future head of the state-owned PrivatBank include the development of a strategy for growth, preparations for successful inclusion of foreign investors in its capital within several years and further efforts to clear up the bank from toxic assets, acting governor of the National Bank of Ukraine (NBU) Yakiv Smolii said.
Smolii also praised outgoing PrivatBank Board Chairman Oleksandr Shlapak’s achievements and noted his professionalism in stabilizing the bank’s work.
“He showed high professionalism in stabilizing the bank. Shlapak confirmed the bank’s credibility by ensuring its smooth operation following the bank’s takeover by the state, thus maintaining customer confidence,” Smolii commented on the resignation of Shlapak.
The Ukrainian government on December 18, 2016 decided to nationalize Ukraine’s largest bank – Dnipro-based PrivatBank, whose owners were Hennadiy Boholiubov and Ihor Kolomoisky. It became wholly owned by the state. After the government became its owner, the Finance Ministry additionally injected UAH 116.8 billion into it.
Ukraine’s Cabinet has recently decided to additionally funnel UAH 38.565 billion into the bank after an audit report by an independent audit firm, Ernst & Young. The measure is designed to help the bank meet its economic requirements.
Shlapak, who previously was finance minister, was tapped to head PrivatBank’s board in December 2016. (Interfax-Ukraine/Business World Magazine)