Ukraine's Finance Ministry has supported the initiative of the supervisory board of PrivatBank to attract an internationally recognized firm to draw up a business strategy (market strategy) of the bank.

"We invite all interested companies to participate in the tender and send a technical inquiry in the period before July 1, 2017," the ministry said on its website on Tuesday.

The ministry said that the technical conditions were approved at the recent meeting of the supervisory board of PrivatBank.

As reported, the Ukrainian government on December 18, 2016 decided to nationalize Ukraine's largest bank – Dnipro-based PrivatBank whose owners were Hennadiy Boholiubov and Ihor Kolomoisky. It became wholly owned by the state. After the government became its owner, the Finance Ministry additionally injected UAH 116.8 billion into it.

Liabilities of the ultimate beneficiaries of the bank to restructure the loan portfolio in the period until July 1, 2017 were presented in a letter dated December 16, 2016. The letter was not published.

Recently Ukraine's Cabinet of Ministers decided to additionally funnel UAH 38.565 billion into the bank after an audit report by an independent audit firm, Ernst & Young. The measure is designed to help the bank to meet its economic requirements.

Oleksandr Shlapak, who previously was finance minister and tapped to head PrivatBank's board in December 2016, decided to resign at the end of June 2017.