The story
Founded by Gennadiy Bogolyubov, Ihor Kolomoyskyi and Serhiy Tihipko on Mar 19, 1992.1
PrivatBank is a private commercial banks established in Ukraine. Decision on PrivatBank establishment was taken at the meeting of its founders on 7 February 1992.
Nationalisation
On 18 December 2016 the Deposit Guarantee Fund (DGF) appointed a temporary administrator to manage the activities of PJSC CB "PrivatBank" in accordance with the decision of the National Bank of Ukraine to classify the Bank as insolvent.
On 19–21 December 2016, in accordance with the provisions of the Law of Ukraine “On the Deposit Guarantee System”, the DGF dismissed the Bank's Management and Supervisory Board and was solely responsible for managing the Bank's activities during these three days. The DGF recognized the impairment of loans and advances to customers in the amount of UAH 155,764 million and converted UAH 10,934 million of customer funds, UAH 10,721 million of issued Eurobonds and UAH 7,783 million of subordinated debt into authorized capital of the Bank (‘bail in’). On 21 December 2016, after the bail in, the Bank's shares were sold for UAH 1 to the Ministry of Finance of Ukraine. In December 2016, the Ministry of Finance decided to increase the authorized capital of the Bank by UAH 116,800 million and by further UAH 38,565 million in June 2017. Subsequently, the Ukrainian state has owned 100% of the shares of the authorized capital.
From Wikipedia’s article on PrivatBank, shared under CC BY-SA 4.0.4