09:54 21.12.2016

NBU governor: PrivatBank could be sold in three years

2 min read
NBU governor: PrivatBank could be sold in three years

Governor of the National Bank of Ukraine (NBU) Valeriya Gontareva sees good prospects for selling nationalized PrivatBank in next three years.

"The bank as business still exists. We have guaranteed deposits to all people. The bank's capital will be formed with government securities. A strong new management team and the supervisory board with high-level foreign specialists would come. They would help to transform [the bank]. I think [the bank] would be priced and it could be sold," she said on the Ukraina TV channel late on December 20.

She said that the bank could be sold no earlier than in three years, but no later than in three years and later.

Gontareva said that operations of PrivatBank were fully resumed by late Tuesday. Around UAH 8 billion is in its cash desks and ATMs, and over UAH 15 billion was on its correspondent account early Tuesday thanks to a refinancing loan issued by the NBU.

The NBU head expressed hope that the banks would quickly restore its operations and government guarantees for deposits would help to avoid outflow of clients and narrow or abandon monetization of government bonds to fill the bank's capital.

Gontareva said that the central bank is ready to enter the currency market every day if it is required to support the hryvnia.

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