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You're reading: Nationalizing losses for private – and PrivatBank – gain, again
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The government takeover of PrivatBank will cost Ukrainian taxpayers billions of dollars while those who bankrupted the nation’s largest bank are likely to go free.

PrivatBank, which had 20 percent of the nation’s $53 billion in banking assets by some valuations, was nationalized on Dec. 18. It now belongs to the Ministry of Finance.

According to Vitaly Vavryshchuk, head of the National Bank of Ukraine’s financial stability department, there was no other choice but nationalization because “the safety of clients’ money should not depend on repayment of loans given to related parties.”

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