The Cabinet of Ministers of Ukraine, at its meeting on
Sunday, considered issues to ensure stability in the financial system of the
country. Taking into account the results of a meeting of the National Defence
and Security Council of Ukraine, the Government has supported the proposal put
forth by the National Bank and the Council for Financial Stability on the transfer
of the PJSC PrivatBank to 100% state ownership.
It is envisaged that the Government represented by the
Finance Ministry will become the owner of 100% shares of PJSC PrivatBank and ensures smooth functioning of this financial
institution and security of assets of its clients.
These actions are being taken in close coordination with
international financial organizations and with their support.
NBU Governor Valeria Gontareva,
who took part in the meeting of the Government, and Finance Minister Olexandr Danyliuk informed members of the
Cabinet that private shareholders of the PrivatBank had
appealed to the Government with a proposal that the Government acting in the
interests of the Bank’s clients become its absolute owner.
The transition will begin on December 19. The state will
provide a smooth transition, stable work of this institution in the habitual
The Government believes that its responsible decision saved
as Privat and the entire banking system.
The transition will start on December 19. The Government
undertook to conduct "a smooth transition, stable operation of this
institution in the usual mode its clients became accustomed to.
"The government says it proceeds from the fact that the
responsible decision it has taken has saved both PrivatBank
and the entire Ukrainian banking system.
On Monday at 8.30 a.m. Minister of Finance Oleksandr Danyliuk and NBU Governor
Valeria Gontareva will announce details of the approved
decisions at their joint briefing.
In the morning separate statements on this issue would be made
by President of Ukraine Petro Poroshenko and Prime Minister of Ukraine Volodymyr