Ukrainian Deputy Prime Minister Stepan Kubiv defended the emergency nationalization of the country’s largest bank Monday, saying the takeover was transparent and based on international valuations.
The takeover of Privatbank is certain to prompt debate because one of its main owners, the oligarch Ihor Kolomoisky, has clashed repeatedly with President Petro Poroshenko.
Privatbank held about 20 percent of deposits in Ukraine, and customers accounts are now guaranteed by the government, according to Valeriya Gontareva, the governor of the central bank, according to local press reporters.
On a visit to Brussels, Kubiv said the takeover was carried out in accordance with all norms and …read more
Source: POLITICO – Europe Edition
