Kroll company has revealed the inconformity of an audit report of PricewaterhouseCoopers (audit) LLC (Kyiv, the Ukrainian structure of PwC) with real financial situation at PrivatBank, according to a presentation of the National Bank of Ukraine (NBU). “The secret structure in the bank carried out … numerous operations of bank fraud and fabrication of reports … Read more
PrivatBank, prior to its nationalization at the end of 2016, was the object of large scale and coordinated fraudulent actions, which led to losses of at least $5.5 billion, the National Bank of Ukraine (NBU) has said, with reference to Kroll hired for the forensic audit of the bank. “The results of an independent investigation … Read more
The National Bank of Ukraine (NBU) has revoked the banking license of PJSC Bank Financial Partner (Kyiv) after the financial institution had decided to terminate banking activities. The board of the central bank approved corresponding decision No. 769-RSh on November 30, 2017. As reported, the shareholders of Bank Financial Partner at an extraordinary meeting on … Read more
The National Bank of Ukraine (NBU) has approved the application of StarMoney LLC (Kyiv), the subsidiary of the leading Ukrainian mobile communications operator Kyivstar, and authorized the company to act as an operator of the payment infrastructure, Kyivstar President Peter Chernyshov has said. StarMoney, the 100% subsidiary of Kyivstar, has finally received the status of … Read more
The share of state-owned banks of net assets of the Ukrainian banking system grew by 0.4 percentage points (p.p.) in July-September 2017 year-over-year, to 56%, according to a report posted on the National Bank of Ukraine (NBU). The pace is linked to the additional capitalization of PrivatBank (Kyiv). Early 2017 the share of state-owned banks … Read more
The National Bank of Ukraine (NBU) has declared PJSC Bank Boguslav (Kyiv) insolvent, according to the central bank’s website. The NBU Board made corresponding decision No. 708-RSh/BT on November 6. “As of November 1, 2017 Bank Boguslav had not ensured the implementation of measures foreseen in the previously approved restructuring plan with respect to raising … Read more
Fitch Ratings has upgraded the Long-Term Foreign Currency Issuer Default Rating (IDR) of PJSC CB PrivatBank (Privat) to ‘B-‘ from ‘RD’ (Restricted Default). The Outlook on the Long-Term IDR is Stable. Fitch said in a press release that the Long-Term Local Currency IDR was upgraded to ‘B-‘ from ‘CCC’. The Outlook is Stable. The Local … Read more
The National Bank of Ukraine (NBU) on October 27, 2017 approved the change in the structure of the PrivatBank bank group (Dnipro), the central bank has reported on its website. According to the report, SIA PrivatLizings (Latvia), Privatofice LLC (Dnipro), UK SPV Credit Finance PLC and Ukraine Mortgage Loan Finance No.1 Plc (both based in … Read more