CEE’s best bank transformation 2020: PrivatBank

Few banks have undergone as great a transformation over the last four years as PrivatBank. In December 2016, when it was taken over by the state, Ukraine’s biggest bank held more than a third of the country’s retail deposits and boasted 20 million customers.

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Few banks have undergone as great a transformation over the last four years as PrivatBank. In December 2016, when it was taken over by the state, Ukraine’s biggest bank held more than a third of the country’s retail deposits and boasted 20 million customers.

The bank’s loan book, however, consisted almost entirely of credits to companies linked to its former owners, Ihor Kolomoisky and Gennadiy Bogolyubov, all of which defaulted after the forced nationalization.

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