PrivatBank will put up for sale in 2021 – the Head of the Supervisory Board

Приватбанк выставят на продажу в 2021 году - Глава набсовета

Privat

The Supervisory Board of PrivatBank amounted to a five-year development strategy of the Bank. Privatization is planned as the last stage.

Privat privatization is scheduled for 2021. This period is set at five-year development strategy of PrivatBank. This was reported in an interview FinClub head of the Supervisory Board of PrivatBank Engin Akchakocha.

“The validity of the strategy in 2018 and until the privatization of the Bank. We already have specific goals for the end of 2018, at the end of 2019 and forth,” he said.

Privatization is planned for the last phase of the implementation of the strategy.

“Once the market is ready and the Bank will demand. Strategy requires that we complete to privatization efforts until 2021,” said Akchakocha.

18 July 2017 the Supervisory Board of PrivatBank selected McKinsey&Company to develop the strategy of PJSC CB PrivatBank.

“It is important to understand that the strategy developed by McKinsey&Company jointly with PrivatBank. Only after we receive confirmation of strategy from the owner (Ministry of Finance), we are able to provide the user Bank, so he started to work according to them,” said Akchakocha.

He also said that the strategy included several scenarios of development of the Bank.

“The first option is to develop the Bank to full-scale universal Bank. This is one end of the spectrum, but the opposite is to keep the Bank in as little as paying agent,” said Akchakocha.

In his opinion, to reform the business model of such a large institution is a “real challenge”.

Earlier it was reported that PrivatBank will be headed by a Czech banker.

Recall, PrivatBank attracted 2.3 billion hryvnia refinancing.

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