Danyluk explained why to privatize state-owned banks

The state’s share in Ukraine’s banking sector after the nationalization of PrivatBank exceeded 50%, because the Ministry of Finance and the national Bank are developing a new strategy of regulation of the market. This was stated by the Minister of Finance of Ukraine Alexander danyluk.

“When the state share in the banking sector is 55%, it changes the approach. Needs to be changed strategy and we are now working on it. We will also engage external consultants. It’s not a question of a separate Bank – “Privat” or “Owed”. For us as a state it is a question of share of 55%. We must optimize. We must make sure that the money is there to be used effectively”, – said danyluk.

According to the head of the Ministry of Finance, in the near future that the state should privatize at least a portion of the state share in the banking sector.

“No matter how we tried, the private sector will provide better control. The state exists not to control the banks. Must be professional players who are under strict regulation from the National Bank will not allow situations that took place in PrivatBank and other banks”, – said danyluk.

The Minister hopes that the market will come professional players with lots of experience that will restore lending to the private sector on favorable terms. “Without this economic development will be slow,” – said the Minister.

We will remind, in December 2016 72 hours, the state nationalized the largest Bank in Ukraine – PrivatBank. The reason for this step in the Ministry of Finance and the NBU called serious problems with the capital financial institutions. Ex-owner of “Privat” Igor Kolomoisky, in turn, said that the Bank was “killed” by the NBU.