If PrivatBank, the nation’s largest bank, was too big to fail three years ago, the $5.5 billion bailout, 4% of Ukraine’s GDP today, is too big to reverse today.

Wednesday, September 18, 2019
If PrivatBank, the nation’s largest bank, was too big to fail three years ago, the $5.5 billion bailout, 4% of Ukraine’s GDP today, is too big to reverse today.

If PrivatBank, the nation’s largest bank, was too big to fail three years ago, the $5.5 billion bailout, 4% of Ukraine’s GDP today, is too big to reverse today. Reuters writes: “The International Monetary Fund may freeze aid if the nationalisation is reversed.” In contrast to the mountain of nonperforming loans wracked up by the insider loan practices of the previous owners, the bank reports a net profit of $1 billion for the first eight months of this year, almost three times the level of last year. Petr Krumphanzl, a Czech, has been board chairman since Jan. 2018.

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