EBRD supports Ukrainian government's decision to nationalize PrivatBank

EBRD supports Ukrainian government's decision to nationalize PrivatBank

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Ukrinform
European Bank for Reconstruction and Development (EBRD) supports the decision of the Ukrainian government to nationalize PrivatBank in order to protect its depositors, both individuals and businesses.

This was stated by EBRD President Sir Suma Chakrabarti, reads the press release, available to Ukrinform.

 "The long-term stability of PrivatBank, the largest bank in Ukraine, is crucial to the country’s economic health. We believe the decision to nationalize it is the right one and have offered our expertise to the authorities whenever it is needed," Chakrabarti noted.

The nationalization which took place with the cooperation of existing shareholders will be combined with adequate recapitalization and liquidity back-up provided by the authorities to ensure the bank’s stable financial position and operation. 

"We strongly support the National Bank’s continuing efforts to reform the banking system in Ukraine and ensure good governance across the industry," the EBRD President noted.

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