Only three years ago, the state was forced to save the bank from bankruptcy, and the country from the financial crisis. Thanks to this decision 20 million Ukrainian families have saved their financial well-being.
Today, PrivatBank is the leader in providing financial services to approximately half of all Ukraine’s citizens and we will continue as the most profitable and innovative bank in the country.This is a bright example of the fact that reforms in Ukraine can be successful.
Today, attention in Ukraine and abroad is again focused on PrivatBank.Today, the court of appeal is considering the legality of the nationalization of the bank.We expect fair application of the rule of law which should protect the interests of the people.
But no matter what the court’s decision will be, our clients should know that PrivatBank is working in its usual mode 24/7.
From our side, we fully support the statement from the country's leadership on the importance of PrivatBank for financial stability and national security. And we are ready to support this statement not just by words but by actions.
According to the law, the Independent Supervisory Board and the Management Board of the bank must make every possible effort to obtain compensation for the bank’s losses from those who caused these losses.
Yesterday the Bank commenced a new litigation before the District Court of Tel Aviv, Israel, against the former owners and other defendants. The amount of the claim is USD 600 million.
On the basis of further investigation the bank has also increased the amount of its claims before the Chancery Court of Delaware having submitted an amended complaint to the Court.
The bank is continuing preparation for substantive hearing of its claim against the former owners and others for a total amount of over USD 3 billion (including interest) before the English High Court.
We will continue to act in the best interests of our clients and stakeholders.
We appreciate all of those who provide support to our battle to ensure that justice will prevail for PrivatBank and the people of Ukraine.
Chairperson of the Supervisory Board
Petr Krumphanzl, Chairperson of the Management Board