Nationalized PrivatBank has been determined an authorized bank that can be attracted to the storage of cash reserves of the National Bank of Ukraine (NBU), the NBU reported on its website, with reference to NBU Board resolution No. 460-RSh dated July 19.
“Thus, the National Bank continues to delegate some of the functions that it currently performs in the regions to other market participants – banks as part of implementing the concept of cash management in Ukraine, approved by NBU Board resolution No. 207-RSh dated August 11, 2016,” the report said.
Earlier, state-controlled Oschadbank received the similar status of an authorized bank, which could be attracted to the storage of cash reserves of the regulator.
As of July 1 the regional network of PrivatBank included 32 branches and 2,450 offices. (Interfax-Ukraine/Business World Magazine)