On Dec. 18, the Ukrainian authorities nationalized PrivatBank, the country’s biggest bank. This decision may mark the end of the banking crisis in Ukraine.
PrivatBank accounts for one-fifth of all Ukrainian banking assets and half of payments. It is the dominant bank for small and medium-sized businessmen, but about 70 percent of its lending is related to companies belonging to owners Ihor Kolomoisky and Hennady Bogolyubov and it needs recapitalization.
