State plans to completely withdraw from PrivatBank capital in five years

The state plans to completely withdraw from the capital of nationalized PrivatBank in five years, Finance Minister of Ukraine Oleksandr Danyliuk has said at a press conference in Dnipro.

"We plan to fully transfer the bank to the private sector in five years," he said.

According to Danyliuk, the corresponding intentions will be fixed in the strategy of development of state banks, which is expected to be submitted to the Cabinet of Ministers within one or two weeks.

Speaking about the selling price of the bank, the minister noted it will depend on a number of factors.

"[It will depend] on the way how effectively the management team will work, how successfully it implements the strategy. This is the first. Secondly, this is the quality of regulation of the banking sector. And the third one is market conditions," Danyliuk said.

"But we have five years, and I'm sure that this will allow us getting the most attractive result for taxpayers," he added.