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8.1.4 ​Bank news
Ukraine’sstate-ownedbankinggiant​P​ rivatbank​paidUAH3bn($120mn) of its debt on the refinancing loans issued by the National Bank of Ukraine (NBU) ​at the end of February, the bank told Interfax-Ukraine on March 3. "Thanks to the trust of customers and effective liquidity management, Privatbank has accumulated a sufficient amount of hryvnia over the past few months. As a result, the NBU refinancing loan was repaid in the amount of UAH3bn," the press service said. The National Bank's open markets department also confirmed that on February 27, banks paid off stabilization loans worth UAH3bn. According to the NBU, the debt on refinancing loans on February 28 decreased to UAH4.562bn.
A 99.8% stake in Ukraine's Prominvestbank, belonging to Russian state development corporation VEB.RF, was sold for UAH269mn to an undisclosed buyer on March 5, ​Interfax-Ukraine reported the same day. The stake was arrested by Ukraine in September 2018 at the request of companies related to tycoon Ihor Kolomoisky. The companies won litigation against the Russian government in the International Arbitration Court in the Hague in May 2018, which ​awarded $130mn in compensation​ for their lost property in Crimea. Proceeds from the sale of the Prominvestbank stake, which was defined as property of the Russian government, should be used to partially compensate such losses.​ ​Reacting to sale, VEB claimed that it will seek for compensation of related losses at the expense of foreign assets of the Ukrainian government, Interfax-Ukraine reported on March 5. Earlier this week, the Russian corporation reported the Stockholm Arbitration Court ruled on March 2 to prohibit Ukraine from the expropriation and forced sale of the Prominvestbank stake.
45​ UKRAINE Country Report​ April 2018 ​ ​www.intellinews.com