PrivatBank

May 13, 2023

When PrivatBank will be sold: the Ministry of Finance answered PrivatBank’s sales plans have been postponed. The privatization was planned to take place in 2024, but now the sale will be planned after winning the war. According to Interfax, Deputy Minister of Finance of Ukraine for European Integration Yuriy Draganchuk called for postponing the discussion on the timing of the privatization of the state-owned PrivatBank until the victory. “Of course, the bank must do everything to improve its financial result, corporate culture and be ready for sale, but the strategy has changed (…) There is a strategy to support business together with the state. Let’s win the war and then we will talk about what – the timing of the privatization of the “bank,” he said during the presentation of PrivatBank’s report on the results of work in 2022. The Chairman of the Board of PrivatBank, Gerhard Besch, recalled that they had previously planned to sell PrivatBank in 2024, but now the specific dates for the sale have not been announced. “But we want to be ready and only the shareholders will give the green light to press the button,” he added. According to the National Bank of Ukraine, PrivatBank was the largest in the country in terms of total assets as of February 1 this year (UAH 731.9 billion), which accounted for 26.8% of the total assets of all 67 operating banks. As GLOBAL HAPPENINGS reported, messages from supposedly representatives of PrivatBank are massively distributed in Ukrainian social networks. Citizens are offered “help from a charitable foundation” and are given a link to a website through which they can receive money. It’s actually phishing. Source: Obozrevatel