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Lugansk People’s Republic stops operation of Kolomoisky’s Privatbank in its territory

July 07, 2014, 22:28 UTC+3 LUGANSK
"The decision is not temporary. The resumption of the bank’s activities will be impossible in future," the Novorossiya news agency reported
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LUGANSK, July 07. /ITAR-TASS/. The Lugansk People’s Republic has stopped the operation of Privatbank belonging to businessman Igor Kolomoisky, the governor of Ukraine’s Dnepropetrovsk region, in its territory, the Novorossiya news agency reported on Monday.

“One of the biggest financial institutions - Privatbank - ceased its activities in the Lugansk People’s Republic. The decision is not temporary. The resumption of the bank’s activities will be impossible in future,” the agency went on to say.

Privatbank owned by Kolomoisky is the biggest Ukrainian bank. The credit organization services 13.6 million individual accounts and 325,000 corporate customers.

The bank’s assets and capital were valued at 21 billion dollars and 2 billion dollars, respectively, on January 1, 2014.

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