In response to false and inciting reports on PRIVATBANK PJSCCB published by Ukrainian media, the National Bank of Ukraine issues the following statement.
The National Bank of Ukraine sees no reasons for the clients and partners of the bank to have concerns over the misleading information about this financial institution’s performance that circulated in the media.
PRIVATBANK PJSCCB is a systemically important bank with the professional management team that operates in a sustainable manner, meets the regulator’s prudential ratios and requirements, and has an approved recapitalization plan and the support from shareholders. In its performance, PRIVATBANK PJSCCB adheres to the practice of keeping customer service flowing smoothly without disruption. In addition, the regulator carries out a continuous monitoring of the availability and sufficiency of bank’s liquid funds.
Presently, PRIVATBANK PJSCCB is systemically important for the financial system and the largest specialized savings bank, with its market share accounting for over 26% of household deposits. In view of this, the National Bank of Ukraine will remain involved in efforts to shore up the bank to the extent necessary, including through providing refinancing loans that will be used by the bank to meet its obligations to depositors.
“Only solvent banks that comply with applicable legal requirements can qualify for refinancing loans from the National Bank of Ukraine. All loans are granted against eligible high quality collateral that is evaluated by leading international appraisal agencies,” emphasized First Deputy Governor of the National Bank of Ukraine.
In view of the above, the National Bank of Ukraine calls on mass media outlets and citizens not to succumb to provocations, with the relevant enforcement agencies carrying out a probe into the case to track down the origin of these provocations.