Ukraine's top banker Valeriia Hontareva said today after the announcement of her resignation, Censor.NET reports citing LIGA.
Previous reports said loans to related parties made 97 percent of the bank's loan portfolio.
"The night before, they [owners of the bank - ed.] carried out fraudulent transactions worth 16 billion hryvnia ($592.15 million)," Hontareva said.
She said Privatbank was a systemic bank since it serviced some 20 million citizens of Ukraine. Placing it under the control of the state was the only correct decision in conditions when the shortage of funds made 146 billion hryvnia ($5.403 billion), Hontareva stressed.
On Dec. 18, the Cabinet of Ministers announced its decision to nationalize Privatbank, Ukraine's largest privately-held bank. The bank's first deputy CEO said the move came after an unprecedented information attack on the bank and a threat it posed to its clients. The bank's leadership assured the clients their savings will be safe. In turn, Minister of Finance Oleksandr Danyliuk confirmed the clients' money will be safe and protected by the state. Due to the nationalization procedure, Privatbank halted corporate transactions for one day, till 9 a.m. Dec. 20.
According to the National Bank of Ukraine, Privatbank needs 148 billion hryvnia in additional capitalization. The finance minister said that after Privatbank is stabilized, the state plans to sell it. In turn, President Poroshenko said the state guarantees safety and integrity of the client's funds.
On Dec. 19, the National Bank of Ukraine allocated 15 billion hryvnia to maintain the liquidity of Privatbank.
The decision on the Privatbank nationalization was supported by IMF, EBRD, the G7 countries, the EU and the U.S.
Minister Danyliuk claims the bank was made insolvent and those guilty should be held accountable.
The Ministry of Finance said it was going to issue domestic government bonds worth 116.8 billion hryvnia to refinance Privatbank.
On Dec. 23, the Ministry of Finance formed a new supervisory board of Privatbank. On Dec. 26, the board was officially presented.