PrivatBank is no longer private

PrivatBank is no longer private

22.12.2016 News

On December 18 at 23:30 p.m. it was  posted the information on the site of the Governmental portal of Ukraine  that on  December 19, 2016, the PJSC Privatbank goes into 100 % ownership of the state. The text of the statement  also reports  that the decision was made at the meeting of the Cabinet of Ministers of Ukraine on Sunday. According to the original source, the nationalization of financial institution is aimed at stabilizing the financial system of Ukraine.

In addition, it is also pointed in the document  that the initiative of the National Bank received the support of representatives of National Security and Defense Council of Ukraine.  It should be noted that the specific reasons for the nationalization of the largest bank in Ukraine are not indicated in the document. On the other hand, the authorities assure  that the transfer of PrivatBank under the  state control will not affect neither the progress of the company nor the customers to dispose freely their bank accounts.

Recall that on Friday our editors asked the PrivatBank to comment on a heated situation around the financial institution. Thereat the representatives of the bank assured that the nationalization will not happen. Perhaps such actions were associated with the need to ensure the stability of the banking system, and the desire to protect the population from panic. However,  for now we have the fact of the PrivatBank’s transition in state ownership, which causes even more questions, but to the government.

 Also read: PrivatBank deflated the  rumors about nationalization

Other articles

  • shutterstock 1920327596
    News

    3×4, a recently-founded Ukrainian Web3 fundraising platform, launches its first campaign

    3×4, a Web3 fundraising platform for non-profits, has been launched in Ukraine to bring innovative crypto & NFT fundraising to the rising number of social impact causes. 3×4 helps non-profit organizations to fundraise utilizing NFTs in collaborations with artists and brands while providing donors utility, revenue and transparency. The idea of 3×4 was born in […]

  • 632595f853279441907151 730x410
    News

    The September, 29 will take place the international investment forum REBUILDING UKRAINE WITH THE PRIVATE SECTOR: International Investment Fair

    In order to present existing opportunities and draw attention of the international business community, UkraineInvest organizes an international forum with the participation of leading business representatives and expert environment of Ukraine and the world. The need to rebuild Ukraine creates a variety of attractive investment projects aimed at contributing to shaping a new economy of […]

  • Україна планує запровадити нове мито на імпорт
    News

    Україна планує запровадити нове мито на імпорт

    Проект, що його розробляє уряд, визначає введення 10% збору на купівлю іноземної валюти імпортерами. Деталі ініціативи Кабміну повідомив нардеп Ярослав Железняк, який є заступником голови податкового комітету Верховної Ради. “Тут варто зазначити, що обрана концепція не передбачає додаткових імпортних мит (що є складним при адмініструванні), а визначає запровадження 10% збору на валютообмінні операції із купівлі всіх […]

  • Китай спустив на воду найбільший у світі контейнеровоз
    News

    Китай спустив на воду найбільший у світі контейнеровоз

    У Китаї суднобудівна компанія Hudong-Zhonghua Shipbuilding спустила на воду найбільший у світі контейнеровоз, який отримав назву Tessa. Про це повідомляє сайт компанії. Вказано, що судно будується на замовлення швейцарсько-італійської Mediterranean Shipping Company (MSC). Воно має ті ж габарити, що й нещодавно побудовані для компанії Evergreen контейнеровози Alot та Apex, але трохи більшої ємності. “Хоча основні розміри залишилися […]

  • Банк Англії підняв ставки рекордно за 27 років
    News

    Банк Англії підняв ставки рекордно за 27 років

    Банк Англії підвищив базову процентну ставку максимальними темпами з 1995 року, на 50 базисних пунктів – до 1,75% із 1,25%. Про це повідомляється на сайті регулятора. Сама ставка зараз перебуває на максимальному рівні з грудня 2008 року, коли вона становила 2%. Банк Англії прийняв таке рішення на тлі високої інфляції, яка зараз становить 13%. Регулятор прогнозує, […]

  • В Україні відновлять приватизацію в умовах війни
    News

    В Україні відновлять приватизацію в умовах війни

    Верховна Рада на засіданні у середу, 28 липня, 233 голосами ухвалила законопроект про спрощення приватизації, повідомляє нардеп Ярослав Железняк. Ухвалений законопроект №7451 дозволяє відновити приватизацію, яка була зупинена через воєнне вторгнення Росії. Законопроект пропонує зробити приватизацію швидшою. Так, приватизація з моменту оголошення аукціону до підписання договору триватиме не більше двох місяців, а вся інформація про об’єкти приватизації […]

  • Доходи українців впадуть на чверть у рік війни
    News

    Доходи українців впадуть на чверть у рік війни

    За підсумками 2022 року доходи українців впадуть на 25%. Про це йдеться в Інфляційному звіті Національного банку України. Загалом номінальні зарплати скоротяться на 12%, а в реальному вимірі (з урахуванням інфляції) – на 27%. “Надалі з відновленням економіки, пожвавленням попиту на робочу силу номінальні зарплати швидко зростатимуть і перевищать довоєнний рівень вже в 2023 році. Втім, з […]

  • На Україну чекає найбільше в історії падіння ВВП
    News

    На Україну чекає найбільше в історії падіння ВВП

    Падіння економіки України у 2022 році буде найбільшим за всю історію країни. Про це йдеться в інфляційному звіті Національного банку. “Військові дії зумовили глибокий спад економіки. Після шоку перших місяців війни вона поступово адаптується до нових умов, проте падіння ВВП у 2022 році буде найглибшим за всю історію України”, – йдеться у повідомленні. За базовим сценарієм, цього […]

Read also

PrivatBank is no longer private
News

Antimonopoly Committee of Ukraine gave the permission for the merger of Ukraine-Agro A / S and the Russian Pig Meat A / S

The Danish company will combine its assets in Ukraine and Russia. It is reported by “ProAgro”. Antimonopoly Committee of Ukraine (AMC) gave the permission for the merger of Ukraine-Agro A / S and the Russian Pig Meat A / S (both – Holstebro, the Kingdom of Denmark). According to the resolution of the Antimonopoly Committee, […]

Next
PrivatBank is no longer private
News

Bezos is no longer the richest man in the world: the owner of LVMH overtook him

LVMH CEO Bernard Arnault topped the list of the world’s richest people with a fortune of $ 186.3 billion, surpassing Amazon founder Jeff Bezos by $ 300 million. This was reported by Forbes. The top three also included Tesla and Space X chairman Elon Musk ($ 147.3 billion). According to the publication, Arno’s wealth increased […]

Next
PrivatBank is no longer private
News

Apple may launch its subscription service package «Apple One» in October with the iPhone 12

Many analysts have been predicting for about a year that Apple will merge and sell its services in packages, and today the news agency Bloomberg, citing anonymous sources, said it would happen in October, at the same time as the release of the new iPhone 12. Apple shares have responded to rumors of growth, although […]

Next
PrivatBank is no longer private
News

Family courts must open up to avoid ‘outrageous injustices’, warns Ukip

MP Douglas Carswell launches Ukip policy calling for greater sensitivity in legal process to avoid breakup of families and forced adoptions Secrecy within the UK’s system of family courts is allowing social workers to “ride roughshod” over ordinary people and resulting in the unnecessary breakup of families and forced adoptions, the Ukip MP Douglas Carswell has warned. […]

Next
PrivatBank is no longer private
News

Netflix shares fell sharply after the report due to falling new users

Shares of Netflix fell more than 11% after the close of trading on Tuesday, as the low number of new users of the streaming giant disappointed investors. Market analysts predicted a decline, but did not expect it to be so strong. In 2020, Netflix, on the one hand, received an incredible increase in users of […]

Next
PrivatBank is no longer private
News

USA company invests $ 100 million in the Yuzhnyi sea port

The American company Cargill invests $ 100 million in the construction of a grain terminal in the Ukrainian Yuzhnyi sea port (Odessa region). This was announced by the Prime Minister, Arseniy Yatsenyuk at the signing ceremony of the investment agreement, which took place on Wednesday in the Cabinet of Ministers. “It’s been 7 months, and […]

Next
PrivatBank is no longer private
News

M & A transactions in the amount about $ 2.4 billion

Recently  in a world of M&A another significant deal was concluded. The CMA CGM French company, that occupies the third place in the world and specializes in the sphere of container shipping  concluded the deal with Singapore shipping company Neptune Orient Lines (NOL), which incurs losses for the last several years. The agreement is valued […]

Next
PrivatBank is no longer private
News

Yuzhmash provides Antares Carrier Rocket Shipment to the USA

According to Interfax-Ukraine, the State Enterprise  Production Association Yuzhny Machine-Building Plant named after A.M. Makarov (Yuzhmash) has provided the  first step of Antares carrier rocket (CR) medium-class shipping  by the interests of Orbital ATK Inc. (NYSE: OA) Company. The international space station renewed the cargo flight after CR modernization with Mild-Atlantic Regional Spaceport due to […]

Next
sweden30
Analytics

Ukraine — Sweden: the centuries-old traditions of cooperation are continuing

During the times of Kyivan Rus people which came from Scandinavia, the Vikings, were often called Varangians. In the 19th century, according to the chronicle, they had not only strong trade but also political relations with Russia (it is worth mentioning that the wife of Yaroslav the Wise, princess Ingigerda, was the daughter of Swedish […]

Next
PrivatBank is no longer private
News

Tim Cook admits that he will step down as Apple’s director for 10 years

Apple CEO Tim Cook doubts that he will hold the post for another 10 years. He stated this in an interview published on Monday in The New York Times. Asked if he would head Apple during that time, Cook said: “Another 10 years. Probably not.” He added that now the specific time when he could […]

Next
PrivatBank is no longer private
News

Yanukovych Jr.’s bank was liquidated

The Deposit Guarantee Fund approved the liquidation procedure, which lasted six years. Now the financial institution is officially considered liquidated. PJSC All-Ukrainian Development Bank (VBR), which belonged to the son of fugitive ex-president Oleksandr Yanukovych, was liquidated as a legal entity. The process has been going on since 2015, according to the press service of […]

Next
PrivatBank is no longer private
News

About 2,500 Boeing 737s will be tested for malfunction

The US Federal Aviation Administration (FAA) has ordered the state airline to inspect about 2,500 Boeing 737 aircraft for defective relays and cabin pressure drops. “An undetected failure of both relays could slow the crew’s detection of insufficient cabin pressure and result in the crew losing their ability to work due to hypoxia and, as […]

Next
PrivatBank is no longer private
News

Privatization of “President Hotel” went to the second round

The State Property Fund of Ukraine has chosen a company that will reassess the package of the state-owned shares of PJSC “President-Hotel” in the amount of 100% of the share capital. The winner of the contest, which was on July 27, 2016, was the company LTD “M Consulting.” The winner is required to conduct an […]

Next
PrivatBank is no longer private
News

The “Astarta” agricultural holding will invest 10 million UAH in the development of the industry

The largest producer of sugar in Ukraine, the “Astarta” agricultural holding launched the project on drip irrigation in the Poltava region. The cost of the project is 10 million UAH. “Irrigation technology will be applied to the crops of sugar beet: first, 360 ha, and according to the results of the project in this year, […]

Next
PrivatBank is no longer private
News

Alibaba’s revenues exceeded estimates, but the company reported losses due to a fine of $ 2.75 billion

Shares of Chinese e-commerce giant Alibaba, down 24.3% over the past six months, fell 3.2% at the start of trading on Thursday after the company released its report for the fourth quarter of fiscal 2021 ended in March. The good news for Alibaba investors was a 64% increase in quarterly revenue compared to the same […]

Next
PrivatBank is no longer private
News

Nokia has become a 5G supplier for Telia in Scandinavia and the Baltics

Finnish corporation Nokia will supply about 7.5 thousand 5G transmitters for Telia in Finland, Scandinavia and the Baltics, the equipment supplier said on Wednesday. Telia is a telecommunications company. The headquarters is located in Stockholm. The company’s largest shareholders are the governments of Sweden (37.3%) and Finland (11.7%). The company serves all government communications resources […]

Next