According to him, earlier the National Bank of Ukraine (NBU) did not allow Fuks and his partners to acquire Prominvestbank (PIB), because the businessmen failed to disclose their sources of financing, as required by Ukrainian legislation. As a result, another scheme for obtaining control over the bank was developed.
“According to the latest information, Vnesheconombank Group (VBE) together with Ukrainian businessmen Mikitas and Stolar (FMS) have developed a model of a “creeping control change”. In other words, representatives of Fuks will be appointed to the Supervisory Board and the Board of PIB. That is to say, formally, PIB is controlled by VBE, in fact – it will pass to Fuchs, since any important decisions will be made with the participation of new overseers. We can only guess what Fuks has promised to VBE managers. Let’s pop some popcorn to watch a movie showing this group of businessmen trying to find a way round the NBU,” Kushniruk says.
According to him, the overseers of Fuks, Mikitas and Stolar are already working in Prominvestbank.
“It is these overseers that bank managers must coordinate all their actions with. As a rule, the coming of such overseers, whose status has been in no way officially agreed with the regulator, indicate that the issue of promulgating the transaction for sale of PIB may be raised any day.
It is not ruled out that the NBU management will be forced down with the help of Maxim Mikitas, who, among other things, is an MP and a member of the parliamentary faction “People's Will”, the economist underscores.
Boris Kushniruk also does not exclude that these businessmen will become only nominal owners of the PIB, and the Russian state corporation Vnesheconombank will retain control over the bank. In any case, the economist believes, both Ukraine and the bank depositors will lose from such a change of ownership.
It is a big question whether the potential owners possess the means required to purchase and further support the capital and liquidity of PIB. This makes several hundred million dollars, according to the assessment of PIB’s assets. Of course, under such circumstances it is possible that potential buyers will be only nominal holders, and the bank will be further monitored by the Russian VBE. Given all the risks mentioned. But the option that these individuals will become real controllers of PIB does not cause too much optimism, because it is most likely that the new owners will withdraw assets, and the liabilities are more likely to be left to the state,” Kushniruk believes.
Earlier, the Russian media reported that the Russian state corporation Vnesheconombank plans to sell Ukrainian Prominvestbank as early as the beginning of 2018.