CEO of the Privatbank Oleksandr Shlapak steps back

6/26/17

CEO of the Privatbank Oleksandr Shlapak has applied to its supervisory board to step back. The supervisory board shall consider the application at its next meeting within a month.

Last month, the annual financial report of the bank was approved. The financial report of the bank for 2016, the auditors’ assessment of the report as well as its press releases are due to be published soon.

On June 23, the Government decided to increase the capital of the Privatbank by 38.5 billion hryvnas based on the proposals of the National Bank of Ukraine, recommendations of the Expert and Analytical Council for the State Participation in the Charter Capital of Banks as well as the conclusion of the audit company EY.

Oleksandr Shlapak took on the challenge to lead the biggest bank of Ukraine immediately after its transfer to state property in the period marked by high risks and uncertainties. His efforts contributed to the stabilization of the bank and to its sustainable development. He met the targets set by the Government and the supervisory board in the best possible way and can leave the bank being sure of its further development.

“Oleksandr Shlapak fulfilled his mission for the stabilization of Ukraine’s biggest bank professionally, which made it possible to protect the savings of 20 million customers. Thanks to his persistent efforts, the Privatbank confidently holds its leading position on the market while implementing innovative products and delivering high-quality services to its customers. I am grateful to Oleksandr Shlapak for his important contribution to the stabilization of the Privatbank. The next CEO of the bank must be a professional who will continue to develop the bank, engage investors and prepare the bank for a transparent privatization”, Minister of Finance Oleksandr Danyliuk said.

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