I called the timing of the privatization PrivatBank

The state could sell the nationalized PrivatBank the private sector within three to four years. This was stated by the head of the National Bank of Ukraine (NBU) Valeriya Gontareva in an interview “ЛІГА.net”.

“The Bank really sell good for the state multiplier, but maybe it will have to spend three to four years. EBRD (European Bank for reconstruction and development – Ed.) was invited to participate in the capital. Believe me, there will be a success story,” said Gontareva.

According to Gontareva, now PrivatBank good balance, and poor-quality credit portfolio fully reserved.”If the former shareholders restructurizer it, the current level of capital is excessive, and the money will be returned back to the state”, – said Gontareva.

The head of the NBU also noted that at the moment the state controls 50% of the banking market.

Earlier today new head of the Board of PrivatBank Alexander Shlapak declared that the financial institution is not ready for privatization.

“We have a portfolio of 200 billion of assets 170 billion of assets bad. You need to decide that with them to do next. Only then we can talk about some sales,” – said Shlapak.

AK is known, the management of PrivatBank was replaced in December 2016 due to the nationalization of financial institutions. The decision of the NBU and the Cabinet of Ministers explained the need, as the Bank was in a difficult position – in particular due to the high share of loans issued to related parties. In turn, the former owner of the Bank Igor Kolomoisky believes that PrivatBank was the victim of arbitrariness.