Ukraine's Finance Ministry injects UAH 16 bln more into nationalized PrivatBank

Photo from UNIAN

20:57, 26.12.2017

1 min. 285

Ukraine's Ministry of Finance has completed the fourth stage of capitalization of the nationalized PrivatBank by issuing domestic government loan bonds worth UAH 16 billion in exchange for shares of the financial institution.

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PrivatBank's supervisory board on December 18 approved the revaluation of real estate and financial leasing facilities, which revealed the need for additional capitalization to the tune of UAH 16 billion, the ministry said on its website.

Read alsoUkraine's PrivatBank seeks to sell Latvian stake – mediaThe ministry recalled that Ukraine's Cabinet of Ministers decided on additional capitalization of the bank by injecting UAH 38.5 billion into its capital in June 2017. In July 2017, government domestic loan bonds worth UAH 22.5 billion were incorporated into the bank's capital.

UNIAN memo. PrivatBank (Dnipro) has been operating in the Ukrainian market since 1992. It is the largest bank in terms of assets.

The Cabinet on December 18, 2016, decided to nationalize the bank. To handle the additional capitalization of PrivatBank, the government issued UAH 117 billion in government domestic loan bonds. The central bank bought back UAH 25.8 billion late in December 2016 and another UAH 1.4 billion in January 2017.

PrivatBank capitalization

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