PrivatBank (Dnipro) is finishing the approval of an agreement with international company EY to conduct comprehensive audit of the financial report and operations of the bank, First Deputy Board Chairman of PrivatBank Oleksandr Dubrovin has said.

"The bank's supervisory board selected EY as auditor. Now we are confirming this decision of the bank's board in documents to help auditors to start working as soon as possible," he said.

As reported, Ukraine's Cabinet of Ministers under a proposal of the National Bank of Ukraine (NBU) and shareholders in PrivatBank on December 18 decided to nationalize the financial institution. The volume of domestic loan bonds to be issued for the purposes was assessed at UAH 116.8 billion - UAH 148 billion.

On December 20 former finance minister of Ukraine Oleksandr Shlapak was appointed new board chairman of the bank.

On December 23, Finance Minister of Ukraine Oleksandr Danyliuk presented the new supervisory board of PrivatBank. The supervisory board of includes EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige, representative of Apollo Global Management Andrea Moneta, former Deputy Finance Minister Artem Shevalev, financier Steven Seelig proposed by the World Bank, the investment banker, commissioner for Naftogaz Ukrainy investment projects Serhiy Oleksiyenko and representative of the International Monetary Fund Engin Akcakoca.

The supervisory board on January 17 elected Akcakoca chairman. The supervisory board also selected an independent auditor.

Earlier PricewaterhouseCoopers (PwC) was auditor of the bank. The National Bank of Ukraine (NBU) last week said that facts of wrong appraisal of assets used as collateral at PrivatBank were revealed.