Board Chairman of PrivatBank (Dnipro) Oleksandr Shlapak has said that at present deposit rates of the financial institution are higher than market rates and he wants to reduce them after the additional capitalization of the bank.

"As for the [deposit] rates, I do not have the solution. I would say frankly: I would like to cut them to reduce spending of the bank. Today we have rates higher than the market rates. These rates PrivatBank set recently were linked to problems with liquidity of the bank. Now there are no problems with the bank's liquidity," Shlapak said at a briefing in Dnipro on Thursday.

He recalled that Ukraine's Cabinet of Ministers instructed the Finance Ministry to issue government domestic loan bonds for UAH 116.8 billion and use them to pay for the additionally issued shares of PrivatBank: the first tranche of UAH 43 billion will be issued by the end of the year.

Shlapak also said that the additional audit of the bank is scheduled. Additional funds will be provided to the bank if they are required.

"When we have enough resources, as today we have negative capital, I am sure that we will return to the issue of cutting deposit rates and credit rates," the banker said.