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Reuters
Ukraine’s biggest commercial bank, PrivatBank, has been nationalised in a move aimed at protecting 20 million customers and “preserving financial stability in the country”.
The country’s central bank said the problems faced by PrivatBank were mainly caused by its “imprudent lending policy” which led to capital losses.
Ukraine’s president Petro Poroshenko has reassured PrivatBank depositors that their money is safe.
The bank is operating normally.
The National Bank of Ukraine (NBU) declared PrivatBank insolvent on Sunday. The government subsequently backed the nationalisation.
PrivatBank is p…
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