PJSC PrivatBank transferred into 100% State ownership

19.12.2016 08:36 "Agro Perspectiva" (Kyiv) — Within its yesterday meeting the Cabinet considered issues of Ukrainian financial system stability assuring, Government Portal reports. As to the report, taking into account the results of a meeting of the Ukrainian National Defence and Security Council, the Cabinet supported the proposal put forth by the National Bank and the Council for Financial Stability to transfer of the PJSC PrivatBank into 100% State ownership. Reportedly, the Ukrainian Government represented by the Finance Ministry will become the owner of 100% shares of PJSC PrivatBank and ensures smooth functioning of this financial institution and security of assets of its clients. It is to be admitted, these actions are taken in close coordination with international financial organizations and with their support. As to the report, NBU Governor Valeriya Gontareva, who took part in the Cabinet meeting, and Finance Minister Olexandr Danyliuk informed members of the Cabinet that private shareholders of the PrivatBankhad appealed to the Government with a proposal that the Government acting in the interests of the Bank clients becomes its absolute owner. Reportedly, the transition will begin on this year Dec 19. The State will provide a smooth transition and a stable work of this institution in the mode usual for its customers.

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