PrivatBank removes UK eurobond issuers from bank group
The National Bank of Ukraine (NBU) on October 27, 2017 approved the change in the structure of the PrivatBank bank group (Dnipro), the central bank has reported on its website.
According to the report, SIA PrivatLizings (Latvia), Privatofice LLC (Dnipro), UK SPV Credit Finance PLC and Ukraine Mortgage Loan Finance No.1 Plc (both based in UK).
Thus, at present the bank group has 10 entities: PJSC commercial bank PrivatBank, AS PrivatBank, SIA PrivatConsulting, SIA Privat Investment, SIA Amber Real (all based in Lativa), PrJSC Kobos, Ukrainian Credit Histories Bureau LLC (all based in Kyiv), Estategarant LLC, LT Group LLC, and A-Lex law firm (all based in Dnipro).
The NBU recalled that the central bank approved the creation of the PrivatBank bank group on March 15, 2013.
As reported, on December 18, 2016 the government at the suggestion of the NBU and PrivatBank shareholders, the largest of whom at that time were Ihor Kolomoisky and Hennadiy Boholiubov, decided to nationalize this largest financial institution in the Ukrainian market. The state received 100% of its capital, and PrivatBank was capitalized for UAH 116.8 billion.
In June 2017 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.