Ukraine: Regime to nationalize biggest bank as tycoons’ rescue fails

posted by
December 19, 2016
Posted in News

"Ukraine will nationalize PJSK Privatbank following a failed rescue bid by the billionaire owners of the nation's biggest lender. The former Soviet republic will take over 100 percent of the bank after shareholders requested government help, according to a statement late Sunday. Privatbank, based in the eastern city of Dnipro, had a capital shortage of 148 billion hryvnia ($5.6 billion) on Dec. 1, central bank Governor Valeriya Gontareva said Monday. While savings are guaranteed by the state, Eurobond holders will be subject to a bail-in." (12/18/16)  


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