PrivatBank lost $303 million of deposits after a Kyiv court ruled in April that nationalization of the country’s largest lender was illegal
Thursday, June 13, 2019

PrivatBank lost $303 million of deposits after a Kyiv court ruled in April that nationalization of the country’s largest lender was illegal

PrivatBank lost $303 million of deposits after a Kyiv court ruled in April that nationalization of the country’s largest lender was illegal, the bank’s finance chief tells Reuters. Noting depositors got “a bit nervous,” Anna Samarina, PrivatBank’s chief financial officer, said in an interview: “As of today, we managed to recover part of that, but we are not back to previous levels.” As legal fights continue with the former owner, Igor Kolomoisky, she said: “Up to 10% of the bank’s operating costs are now dedicated to legal costs.” Although Kolomoisky was Zelenskyy’s main media backer in the presidential campaign, Samarina said: “There has been no interference from the new presidential team in the operations of PrivatBank.”

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