Denationalization of PrivatBank linked to need to return UAH 155 bln to national budget
The decision of Kyiv's district administrative court to declare illegal the nationalization of PrivatBank, which the Finance Ministry of Ukraine intends to challenge, will be rather difficult to execute, Ukrainian Finance Minister Oksana Markarova said at a meeting of the National Security and Defense Council (NSDC) late on Thursday.
"Its execution should envisage the return of over UAH 155 billion of the national budget funds, which were spent on the capitalization of this bank, in some way," the minister said.
She recalled that during the additional capitalization of PrivatBank the state issued government domestic loan bonds for the amount of UAH 155.3 billion, and only small part of them was monetized, while the interest is paid on the rest of the bonds.
"This is one of the elements of the bank's profit," Markarova said.
"We at the Finance Ministry are counting on the return of these funds from profitable operations of the bank and its future privatization," the minister said.