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Monobank, an outgrowth of PrivatBank, “is already worth more than a billion dollars,”

Oleg Gorokhovsky, a co-founder, writes on Telegram. The bank was founded in January 2017 by three former managers of PrivatBank, which had been nationalized one month earlier. The internet-based bank now has 3.5 million accounts, with 1.3 million daily users. A major investor is Sergiy Tigipko, owner of TAS group.

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Andriy Vlasenko, head of the State Food and Grain Corporation, was arrested early Friday morning at Kyiv Zhuliany as he attempted to board a plane out of the country.

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PrivatBank earned $435 million in net profit during the first half of this year, making it Ukraine’s most profitable bank