And again we return to the theme of PrivatBank: not because of the desire to discuss again , perhaps, one of the most resonant events in the past year, but from a desire to understand and clarify some of the nuances of the case.
To do this, we asked for a comment to one of the leading experts in Kiev: a lawyer with an impressive experience and financial analysts, whose name we can not specify, but his professionalism is able to speak for itself.
LDaily: The nationalization of PrivatBank during the week is the number one topic for most of the national media. Someone calls the bank’s asset transfer process under the control of the state – a forced move, others – accuse the government, pointing to the illegality and invalidity of the decision. Can you comment on it: whether it was a lawful ground for nationalization of Privat Bank?
Expert: The current legislation really does not provide a list of specific criterions, which could serve as a legal framework for the implementation of the nationalization procedure of companies or banks. The answer to your question must be sought in the internal documents of the National Bank of Ukraine.
LDaily: And if speaking about the depositors of Privat Bank : how the nationalization of financial institution will be reflected on their behalf?
Expert: In the client, as a rule, it does not appear immediately, as the bank continues to operate, but with the state management. If we talk about the long term, it should be noted that the reliability of PrivatBank will depend only on the competence of its managers. Therefore, in our case, everything remains in the hands of the Ministry of Finance. Also, we should not forget that the rights to the software of Privat have remained among the companies that are still owned by the former owner of the bank. Thus, the reliability of the financial institution in the future also depends on whether the Ministry of Finance will be able to reach an agreement with Kolomoiskyi on an adequate price for the software.
I should note that in the context of nationalization of Privat, I’m more concerned about how this event will affect the investment attractiveness of Ukraine. Such measures from the part of the state does not promise anything good: they can scare off potential investors.
LDaily: And the last question: he is more concerned with the activities of the NBU. Many analysts and representatives of media pay attention to a curious fact: about 80 Ukrainian banks have been liquidated during the 2016 year. Some try to find in the personal interest of the representatives of the current government. What can you say about this?
Expert: Сhances are – it is a way to launder money through the “pocket bank institutions,” and attempt to pull the economy out of the shadow. How such state measures are effective and whether they are aimed at fighting money laundering – we will learn in the future. Of course, it is likely that such actions by the authorities are aimed at the redistribution of financial flows.
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