Over the next three years, PrivatBank, Ukraine’s largest and most profitable bank, plans to cut its branches by 14%, to 1,250, and its staff by 28%, to 15,500

, reports the Finance Ministry, the overseer of the state-owned bank. The goal is to create a ‘good bank’ and a ‘bad bank.’ The ‘good bank,’ largely free of non performing loans from the Kolomoisky era would eventually be privatized. Roman Sulzhuk, a member of the Supervisory Board, writes on Facebook that the main focus of the bank will be to extend credit to small and medium sized businesses.