PrivatBank to be reorganized as OJSC

22:04

PrivatBank (Dnipropetrovsk) is to be reorganized from a closed joint-stock company as an open joint-stock company, the bank has told the press.

The matter on reorganization will be addressed at a general meeting of the bank's shareholders on November 12, 2009.

As reported, under amendments made to the Law on Banks in 2006, banks in Ukraine can be formed only in the form of an open joint-stock company or a cooperative bank. For banks acting in the form of a limited liability company or a closed joint-stock company a three-year period to transfer to an organization form defined by the law is foreseen.

PrivatBank, the largest bank in Ukraine in terms of total assets (UAH 73.412 billion as of October 1), was founded in 1992.

27.11.2008