Kolomoisky's Privatbank may limit the issuance of deposits on Thursday
According to data available to PolitNavigator from the Kyiv management of Privatbank, as early as Thursday, Igor Kolomoisky’s financial institution may limit the issuance of deposits and cash withdrawals.
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Last week, the American rating agency Fitch in its communication downgraded the ratings of Privatbank and state-owned Oschadbank to pre-default.
As PolitNavigator learned from a personal conversation with the head of one of the Kyiv branches of Privatbank, already on Thursday, July 16th, on the eve of Ukraine’s payments on Eurobonds, the financial institution of Kolomoisky and Bogolyubov may limit the payment of deposits and cash withdrawals from accounts. We can talk about the complete bankruptcy of the bank.
Let us remind you that the financial and banking crisis is ongoing in Ukraine. Dozens of banks, including very large ones, such as Delta Bank, have gone bankrupt, while others are on the way to bankruptcy, such as the state-owned Ukreximbank. Throughout 2015, the NBU allocated billions of hryvnia to support Privatbank.
In addition, the final battle for the jewel in Kolomoisky’s crown, Ukrnafta, is scheduled for July 17. On this day, a meeting of the supervisory board of the state company should take place, at which the meeting of shareholders will be discussed (it was scheduled for the 22nd). The main issue on the agenda is the removal of a top manager loyal to the oligarch, Peter Vanhecke, and the appointment of a new head, Briton Mark Rollins, who was approved by the competition commission at Naftogaz.
The loss of Ukrnafta threatens to be an irreparable blow to the Privat group, where the bank is one of the key elements. The Privat group controls 42% of Ukrnafta shares and the company’s management, which allows Kolomoisky to block the shareholders’ meeting and not pay dividends to the state. Thus, this year alone, Ukrnafta must pay UAH 1,8 billion to the State Budget.
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