Board Chairman of PrivatBank Olexandr Shlapak has fully completed the tasks set to stabilize the situation in the Bank and conduct the audit of the financial state of PrivatBank. He plans to finish his anti-crisis tenure as Chairman of PJSC CB “PRIVATBANK” in the near future. As reported by the Supervisory Board, the Board Chairman continues managing the Bank, however he has already submitted the relevant application to the Supervisory Board of the Bank. It may be considered at the next meeting of the Bank’s Supervisory Board at the end of July.

According to PrivatBank’s Supervisory Board, Olexandr Shlapak accepted the challenge of heading the country’s largest bank immediately after it became state property, in the time of great risks and uncertainties. With the successful anti-crisis management program led by Olexandr Shlapak the Bank was stabilized assuring its stable development.

As of now PrivatBank retains its leadership as the most technologically advanced bank, implementing innovative products and ensuring the best customer service. In the last six months the Bank has brought back its depositors, expanded the customer base on account of municipalities, restored mortgage lending and launched the Warm Loans program.

Thanks to the management’s efforts the Bank’s financial statements have been audited in keeping with international standards. The Government and Supervisory Board approved the Bank’s financial statement for 2016 and the corresponding auditor’s opinion. On June 23 the Government passed the resolution on the increase of PrivatBank’s capital by up to UAH 38,565 billion.

Olexandr Shlapak has perfectly completed the tasks set before him by the Government and the Supervisory Board at the time of appointment, and subject to approval of the Supervisory Board may leave the Bank with confidence in its further growth.

Supervisory Board of the Bank