Poroshenko called the nationalization of salvation PrivatBank

The decision on full nationalization of PrivatBank was taken by the authorities of Ukraine in connection with the fact that the owners and managers did not cope with the accumulated internal problems, which has become a threat to the entire banking system of the country, said the President of Ukraine Petro Poroshenko.

“The alternative would look irresponsible, because she meant to close my eyes, hide your head in the sand and wait until the Bank collapses,” — says the official statement of the head of state.

Poroshenko stressed that PrivatBank anyway the wellbeing of about half the adult population of Ukraine and more than 50% of the registered companies in the country. He also expressed serious concern over the situation around PrivatBank “key financial partner” of Ukraine — the International monetary Fund, world Bank and so on.

“That’s why during the last hours the national security Council and defense, the national Bank, the Cabinet of Ministers and the Ministry of Finance has adopted all legally formal decision to move a Bank in full state property. And these decisions saved both the Bank and the banking system,” — said Poroshenko.

The President stressed that the Bank management will be engaged in “a highly professional team of specialists”, which should be first and foremost to take care of uninterrupted service “socially sensitive customers”, that is, those who “live from paycheck to paycheck.”

“I appeal to you, dear clients of PrivatBank: keep calm. The new administration is already taking all the controls in your hands. Right now, these hours and minutes”, — said Poroshenko.

Previously Deputy Chairman of PrivatBank Dmitry Dubilet announced on his page in Facebook that the new Chairman of the Board, former Minister of Finance of Ukraine Oleksandr Shlapak, calling the appointment “great news.”

In a statement, the National Bank of Ukraine PrivatBank total demand in the capital is estimated at 148 billion ($5.6 billion). According to the head of the NBU Valeria Gontareva, the shareholders of PrivatBank have not fulfilled the program of increase of capital, so the regulator and initiated the entry of state capital in credit institutions.

“The government allocates funds to stabilize the Bank, this budget provides the necessary funds. While the budget will remain balanced. Budgetary parameters remain within the limits specified in the IMF program”, — said the Minister of Finance of Ukraine Alexander danyluk.