The controversial nationalization of “PrivatBank”: I called the main reasons

The head of the NBU Valeria Gontareva explained why the government nationalized the country’s largest Bank and what changes should prepare the customers of the financial institution.

“We assure the situation is under control”, – said Gontareva 19 Dec.

According to her, 18 decapante “PrivatBank” insolvent and appealed to the government to pass this systemically important Bank in the state.

“We are pleased that the Cabinet has supported our appeal and took the decision to move the Bank’s 100% state ownership. This will enable the country to guarantee all depositors their savings and businesses their money. This allows you to eliminate threats to financial stability in the country. The move by the Bank to the state – the only way to save depositors ‘ funds to rescue the financial system”, – said Gontareva.

According to the head of the NBU, the decision of the government will be protected more than 20 million Ukrainians.

Last year, the NBU started the stress tests and found several problems of the Bank.

“On April 1, 2015 shortage – 113 billion. More than 97% of corporate portfolio, loans related to the company’s shareholders. On December 1, 2016, the shortage of capital has grown to 148 billion. The Bank almost a year did not fulfill the regulations on mandatory reserves. Outstanding debt to the regulator for the stabilisation loans amounted to 14 billion hryvnia,” – said Gontareva.

The head of the NBU says that, knowing the risks, the regulator could no longer wait.

By the way, December 19 due to technical issues will be suspended service entities.

Previously the top-Manager of “PrivatBank” he said after the information attack at the Bank understand that you will not be able to ensure the safety of financial institutions, soglasilis to the terms of the NBU. Igorsolovei called the decision of the Cabinet of Ministers of raiding.