The servicing of the PrivatBank "toxic" loan portfolio, formed before its nationalization, is close to zero, Halyna Pakhachuk, the deputy chairperson of the bank's board, has said at The Banking 50 meeting, a video report of which was posted on the website.

"The issue's price is about UAH 250 billion, for which today, if we take the statistics of 2017-2019, servicing has practically stopped. The year of 2019 is ending now: through the judicial system, penalties, relevant counter obligations – we managed to recover UAH 585 million on average – this is almost close to zero," she said.

According to her, for financial reporting, the flow from this portfolio is considered as zero.

The banker noted that the bulk of the debt of the "toxic" portfolio is UAH 213 billion, and another UAH 36 billion is interest.

Pakhachuk added that the share of NPL in the new loan portfolio, formed after the nationalization of the bank, is 2.7%, and for loans prior to nationalization, not related to the "toxic" portfolio, 26-28%. The top manager explained that one of the reasons is that until 2017 the bank did not write off a number of such loans, for example, to customers in the uncontrolled territory.