PrivatBank appoints Czech national its Board Chairperson

"While evaluating the candidates for the Management Board of PrivatBank, we were primarily guided by such criteria as high professionalism, work experience in leading EU banks, result orientation, strong operations management and control track record," Chairperson of PrivatBank Supervisory Board Engin Akcakoca said.

Read alsoUkraine's PrivatBank seeks to sell Latvian stake – media"Petr meets all these basic requirements, and he has already proved in practice his ability to effectively reorganize the weak sides of banks. Very good focus at transformations in order to improve operational efficiency is his undeniable advantage," he added.

UNIAN memo. The Dnipro-based PrivatBank has been operating in Ukraine since 1992. It is Ukraine's No. 1 bank in terms of assets.

On December 18, 2016, the Cabinet of Ministers of Ukraine decided to nationalize PrivatBank, guided by the recommendations of the National Security and Defense Council of Ukraine on the proposal of the NBU.

Read alsoNBU leaves unchanged division of banks into three groups (list)Six months later, on July 20, 2017, PrivatBank's supervisory board accepted Shlapak's resignation letter and appointed Halyna Pakhachuk acting chairperson of the bank's board.

In the same month, PrivatBank hired Amrop Executive Search Ukraine to headhunt for candidates for the post of PrivatBank's board chairman. In August, it received a list of 13 candidates.

Petr Krumphanzl was born in the Czech city of Hradec Kralove. His latest experience was in dynamic market of China where Petr as the COO of Home Credit managed all operations of the bank with more than 85,000 employees.