PrivatBank nationalization: Finance Minister tells media, how much money to be injected into financial institution

Ukraine's largest bank, PJSC PrivatBank, nationalized by the State, according to the decision of the Cabinet of Ministers, will continue to operate in a regular mode, while the new management team will be formed in the coming days, Finance Minister Oleksandr Danyliuk told a Kyiv briefing Monday.

The minister stressed that the depositors following the bank's nationalization will not lose an opportunity to operate their assets and that they will not face any losses.

Read alsoPrivatBank deposits secure: Finance MinisterAt the same time, the nationalization process will be accompanied with recapitalization. Its maximum amount will be UAH 148 billion.

However, the funds will not flow into the bank in a single tranche, according to Danyliuk.

The minister said that the first tranche would amount to UAH 43 billion. At the same time, he has assured that the State has at its disposal the required amount of funds while their allocation will not unbalance the state budget.

As UNIAN reported earlier, the Ukrainian Government at its meeting on Sunday supported the proposal of the NBU and the Council for Financial Stability to transfer PJSC PrivatBank to 100% state ownership.