PrivatBank (Latvia)

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AS PrivatBank is a credit institution registered in the Republic of Latvia as joint stock company and received its banking license on 31 July 1992.[1][2]

Prior to 16 August 2007, the bank was known as AS Banka Paritāte.[3]

It had one branch in Italy and 13 branches in Latvia including branches at Riga, Valmiera, Ventspils, Daugavpils, Liepaja, Rezekne, Ludza, Cesis, Valka and Jekabpils.[3][4]

The largest shareholder of AS PrivatBank is JSC CB PrivatBank (Ukraine) with a 46% stake, which the founders of PrivatBank, Ihor Kolomoyskyi and Gennadiy Bogolyubov held a 49.154% stake and a 49.027% stake, respectively in JSC CB PrivatBank (Ukraine) which, in 2016, was the largest bank in Ukraine holding 20% of the market.[4][5] With a 9.23% stake in AS PrivatBank, Igor Mazepa through his Concorde Bermuda Ltd..[6] The Cypriot Andreas Sofocleous is an individual investor in AS PrivatBank with a large stake.[6]

In June 2016, AS PrivatBank was the 11th largest bank in Latvia.[7]

On 9 August 2016, the Bank of Italy closed down the Italian branch of the bank due to irregularities with the money-laundering regulations.[4]

On 30 December 2016, the shareholders of AS PrivatBank were JSC CB PrivatBank (Ukraine) with a 46.54% stake, UNIMAIN HOLDINGS LIMITED (Cyprus) 5.29% stake, WADLESS HOLDINGS LIMITED (Cyprus) 5.67% stake, Concorde Bermuda Limited (Bermuda) 9.23%, Chastely Investments Limited (Cyprus) 2.71%, Danig Limited (Bermuda) 3.47%, and individual investors 27.09% stake.[8]

On 15 December 2016, PrivatBank in Ukraine was nationalized, however, AS PrivatBank was not nationalized but the government of Ukraine held a 46.54% stake in AS PrivatBank.[6][7]

After the 18 April 2019 Ukrainian court ruling that PrivatBank was illegally nationalized, Kolomoyski stated that he did not want to control PrivatBank but demands $2 billion that he lost because of the nationalization.[9][10][11]

References[]

  1. ^ "PrivatBank". ecbs.org. 30 December 2016. Archived from the original on 30 December 2016. Retrieved 23 January 2021.
  2. ^ "Annual Report and Consolidated Annual Report for year 2016" (PDF). AS PrivatBank website. August 2016. Archived from the original (PDF) on 13 August 2019. Retrieved 23 January 2021.
  3. ^ Jump up to: a b "AS "PrivatBank" to Boost Development of SMEs in Latvia". GlobeNewswire. 23 August 2007. Archived from the original on 24 January 2021. Retrieved 23 January 2021.
  4. ^ Jump up to: a b c "Bank of Italy to close AS PrivatBank branch over money-laundering breaches". Reuters. 9 August 2016. Retrieved 23 January 2021.
  5. ^ ""ПРИВАТБАНК" Про банк » Правління та корпоративна структура » Структура власності" ["PrivatBank" About the bank » Board and corporate structure » Ownership structure]. PrivatBank website (in Ukrainian). 11 November 2014. Archived from the original on 11 November 2014. Retrieved 23 January 2021.
  6. ^ Jump up to: a b c "ПРИВАТная пирамида Игоря Мазепы" [PRIVAT pyramid of Igor Mazepa]. Капітал (Capital) (in Russian). 20 December 2017. Archived from the original on 22 December 2017. Retrieved 22 January 2021.
  7. ^ Jump up to: a b "Ukrainas valdība nacionalizējusi "PrivatBank"" [Ukrainian government has nationalized «PrivatBank»]. LSM.LV (in Latvian). Reuters. 19 December 2016. Archived from the original on 23 December 2017. Retrieved 23 January 2021.
  8. ^ "Отчётность финансовой деятельности за III квартал 2016 года" [Financial Statements for the Third Quarter 2016] (PDF). AS PrivatBank website (in Russian). 31 December 2016. Archived from the original (PDF) on 26 January 2017. Retrieved 23 January 2021.
  9. ^ Ivanova, Polina; Polityuk, Pavel (18 April 2019). "Ukraine tycoon crows 'I won' after PrivatBank nationalization ruled..." Reuters. Retrieved 23 January 2021.
  10. ^ Reuters staff (18 April 2019). "Ukraine court says PrivatBank nationalisation violated the law". Reuters. Retrieved 23 January 2021.
  11. ^ Seddon, Max; Olearchyk, Roman; Hall, Ben (17 July 2019). "The Bank that holds the key to Ukraine's future: A bank once owned by oligarch Igor Kolomoisky is set to be a defining issue for the new president". Financial Times. Archived from the original on 17 July 2019. Retrieved 23 January 2021.


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