Nationalized PrivatBank posts US$847 mln in loss in past year

Ukraine's No. 1 PrivatBank, which was nationalized in December 2016, posted UAH 22.966 billion, or US$847 million, in loss in 2017.

Read alsoPrivatBank appoints Czech national its Board ChairpersonThe bank's uncovered loss for previous years as of January 1, 2018, was estimated at UAH 176.029 billion ($6.5 billion), while its capital totaled UAH 25.608 billion ($944 million), reads the financial institution's report published on the website of the National Bank of Ukraine (NBU).

UNIAN memo. 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, Ukraine's Cabinet of Ministers decided to nationalize PrivatBank, guided by the recommendations of the National Security and Defense Council of Ukraine based on the NBU's proposal.