REUTERS
Experts did not notice signs of panic on the debt market or the collapse of Ukrainian Eurobonds.
The debt market has calmly accepted the news about the first-instance court ruling rolling back nationalization of Ukraine's largest bank, PrivatBank, held in 2016.
The relevant opinion was voiced by experts polled by UNIAN.
In particular, Dragon Capital specialist Serhiy Fursa did not notice signs of panic in the debt market or the collapse of Ukrainian Eurobonds.
"There are no movements, no significant downfall, no significant sales," the expert said.
According to him, it is about yesterday's dynamics, since today the markets are closed due to the celebration of Catholic Easter.
Head of Research at Concorde Capital Alexander Paraschiy did not see any manifestation of panic or a collapse of Ukrainian Eurobonds in the debt market either.
"The debt market slightly deteriorated yesterday – the yield on Ukrainian government Eurobonds grew by 0.19-0.29 percentage points. But yesterday there was one important event – trade restrictions on the part of Russia," the expert said.
According to him, the news on PrivatBank could also add negativity, but its role is exaggerated, since this is not the first, and perhaps not the last, news about the case lost by the state on this issue.
Earlier, Chairman of PrivatBank's Board Peter Krumhansl said the court's decision to cancel the nationalization of the bank would not affect its work.
"The bank works in the standard mode. The bank is stable, the bank is innovative, the bank is profitable," he said.
As UNIAN reported, the Cabinet of Ministers in December 2016 decided to nationalize PrivatBank, guided by the recommendations of the National Security and Defense Council. Before nationalization, the key shareholders of the bank were businessman Ihor Kolomoisky and his partner Gennadiy Bogolyubov.
On April 18, 2019, the Kyiv District Administrative Court declared unlawful and overturned the decision of 2016 to withdraw the "insolvent" PrivatBank from the market with the participation of the state. The full text of the decision will be announced by the college of judges within ten days.
Read alsoUkraine's central bank comments on court ruling to roll back PrivatBank nationalization
According to a joint statement by the National Bank, the Ministry of Finance and PrivatBank, the return of the financial institution to its former owners through the cancellation of the nationalization decision is impossible. Also, the NBU reported its intentions to appeal the ruling within the prescribed time frame, or within 30 days from the receipt of the full text.
Chairman of the bank board, Peter Krumhansl, assured that the first instance court ruling rolling back nationalization would not affect the bank's work. According to him, the bank is operating as usual, its liquidity today is almost 100% and there are no emergency situations recorded, including massive withdrawals of money from the accounts, and limits on such operations.
Ukraine’s international partners, in particular the European Bank for Reconstruction and Development, the World Bank and the U.S. Embassy made statements on support for the nationalization of PrivatBank, as well as on the importance of indemnifying the losses by the former owners of bankrupt banks, and on intentions to closely monitor developments in this area.