09:37 22.04.2019

Financial market's reaction to court decision on PrivatBank temporarily – NBU Council head

2 min read

The reaction of the financial market on the court decision on PrivatBank is temporarily, Head of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn has said.

"Now the events around PrivatBank did not significantly affect the rate. The interbank market opened today [on Friday, April 19] with average purchase-sale prices of UAH 26.85 and UAH 26.95 per $1, but around 11:00 the quotations dropped to UAH 26.86 and UAH 26.90 per $1. The cash market was more vulnerable. At the beginning of the day the average selling rate rose to UAH 27.13 per $1, but I think this is a temporary phenomenon, since the reverse trend is already on the interbank market. There are no extraordinary cases," he wrote on his page Facebook on Friday, April 19.

As reported, Kyiv's district administrative court on April 18, 2019 under a claim of Ihor Kolomoisky declared illegal the nationalization of PrivatBank. The NBU and Finance Ministry of Ukraine said that they will challenge the decision after the official publication of the court decision. They are confident that they are right.

According to the NBU, on January 1, 2019, PrivatBank ranked first in terms of total assets (UAH 525.248 billion) among 77 banks operating in the country.

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