23 Oct 2019 21:30

No reason to return state-owned PrivatBank to former shareholders - Ukrainian presidential office

KYIV. Oct 23 (Interfax) - Whatever court rulings have been delivered, there are no grounds to return PrivatBank to its former shareholders, the Ukrainian Presidential Office said at a meeting with the ambassadors of the G7 countries.

"Having made a decision on nationalization, the state invested UAH 155.3 billion in PrivatBank, which allowed to save the funds of Ukrainians. We believe that notwithstanding the decisions of the courts, there is no reason to return the state-owned PrivatBank to its former shareholders," a statement published on the Ukrainian presidential website following the meeting on Wednesday said.

The interlocutors discussed the priorities of economic reforms, cooperation with international partners, international financial organizations, and legal reform in Ukraine.

They focused on the negotiation process with the International Monetary Fund, the reform of the banking sector, and the repayment of funds of bankrupt banks.

The meeting took place on the instructions of Ukrainian President Volodymyr Zelensky. Head of the Ukrainian Presidential Office Andriy Bohdan and his deputies Andriy Smirnov and Yulia Kovaliv attended the meeting.

From October 21 to 24, Zelensky is on a working visit to Japan, where he attended Emperor Naruhito's enthronement ceremony.