In 2022, PrivatBank will be ready for the state exit from the capital, the Ministry of Finance reports to UNN in response to the request.

“In 2022, PrivatBank plans to obtain UAH 8.4 bln of the net profit and will be ready for the state exit from the capital. The aggregate income for the shareholder during 2018-2022 will be UAH 81 bln, without including the funds, which PrivatBank intends to return through courts”, the Ministry of Finance told.

The Ministry reminded that this June, the PrivatBank Development Strategy was approved by 2022.

The document stipulates the implementation of the effective risk management system, solution of the problem with non-performing loans as well as the set of organizational and management changes, aimed at raising efficiency and decreasing costs.

UNN reference

The strategic investors of state banks can be the banks – residents or nonresidents, international financial organizations, which meet the requirements, set by the National Bank, to the impeccable business reputation and satisfactory financial standing. In addition, the following requirements are imposed on strategic partners: on the inability to be strategic investors to the persons, who owned the major shareholding in such banks during the capital increase of banks, and/or the persons, who are registered in the states, included by the Cabinet of Ministers to the list of offshore zones, and the states, included by the Financial Action Task Force (FATF).

It should be reminded that the state plans to exit from the capital of Ukrgazbank by late 2019.

It was previously reported that on 25-31 July 2018, the High Court of London had some hearings of Privatbank’s lawsuit against former owners – Ukrainian businessmen Igor Kolomoysky and Gennady Bogoliubov – on organization of fraudulent schemes for withdrawing funds, amounting to USD 1.9 bln.