Ukraine pours $500 mn into nationalised bank

A PrivatBank branch in Kiev on December 19, 2016Ukraine’s central bank on Tuesday poured more than half a billion dollars into the country’s largest bank after nationalising it in a bid to avert its collapse and a financial meltdown. PrivatBank received 15 billion hryvnias ($558 million dollars / 546 million euros) in order to stay afloat while it undergoes major restructuring. The lender was owned by Poroshenko’s political foe Igor Kolomoyskiy and his close business partner Gennadiy Bogolyubov.

Share this article