Contents tagged with NBU

  • National Bank of Ukraine warns of possible cyber-attack on Ukrainian Independence Day

    The National Bank of Ukraine (NBU) warned Ukrainian banks that on Independence Day, which is celebrated in Ukraine on August 24, a hacker attack on the country’s banking system was possible, RBC-Ukraine news agency reported citing the press service of the bank.

    "The NBU promptly informed the banks about the appearance of a new malicious code, its features, signatures of the attacks and the need to introduce preventive measures to prevent the attack," the report said.

    The description of virus, …

  • Raiffeisen Bank Aval sues the National Bank Of Ukraine

    The Kyiv District Administrative Court opened proceedings on the lawsuit filed by Raiffeisen Bank Aval against the National Bank of Ukraine (NBU) demanding cancellation of the 4.9 million UAH ($190,810.00) fine imposed on them, as stated in Decree No. 826/9684/17 dated August 4th, FinClub reports.

    “Bank Aval PJSC appealed to the Kyiv District Administrative Court with an administrative claim against the National Bank of Ukraine requesting to recognize as unlawful and cancel the decision dated …

  • Ukrainian foreign reserves reached $18 billion

    The National Bank reported that Ukraine's international reserve had reached $18 billion. This was stated by the Deputy Head of the NBU, Dmytro Sologub.

    According to Sologub, the favorable situation on the foreign exchange market allowed the National Bank to buy $1.4 billion, a net purchase of foreign currency, from the beginning of 2017.

    "At the moment, international reserves amount to about $18 billion," he said. He also noted that the U. S. dollar exchange rate is falling relative to world …

  • National Bank of Ukraine removes PwC from auditor registry for inaccurate audit of PrivatBank

    The National Bank of Ukraine (NBU) has removed PricewaterhouseCoopers (PWC) from the registry of auditing firms which have the right to audit banks.

    The relevant decision was made on July 20 by the NBU’s executive board on the basis of a request from the Committee on matters of bank auditing, the NBU’s press service reported.

    The announcement points out that the reason for the decision was the fact that PWC affirmed inaccurate information about the financial-economic activity of PrivatBank ( …

  • National Bank of Ukraine: Billions are circulating outside of the banking system in Ukraine

    The amount of cash outside of the banking system is about 300 billion hryvnia ($11.48 billion USD).

    UNIAN reports that the Acting Head of the National Bank (NBU), Yakov Smolii, announced this during a meeting of the Verkhovna Rada Committee on Financial Policy and Banking Activity.

    "At the current time, there is cash of about 300 billion UAH outside of the banking system," he said.

    At the same time, Smolii stressed that such a large amount of cash increases the burden on the National Bank, …

  • Ukrainian court has recognized the nationalization of PrivatBank as 'partially illegal'

    On May 17, the Kyiv District Administrative Court recognized the nationalization of Ukraine's largest privately owned bank, PrivatBank, which took place on the night of December 18, as partially illegal. The court considered the claim of six individuals against the National Bank (NBU), the Individual Deposits Guarantee Fund, the Ministry of Finance, and persons authorized to perform interim administration at the Bank at the end of December 2016. The plaintiffs were co-owners of the media group 1 …

  • National Bank of Ukraine expects to receive fifth tranche of IMF loan

    Ukrainian authorities will reach a consensus with the mission of the International Monetary Fund that is working in Kyiv now. They anticipate that the country will receive the fifth tranche of the Fund's loan within the framework of the program.

    This was told to reporters by the acting head of the National Bank, Yakiv Smoliy on the sidelines of the research conference organized by the National Bank of Ukraine together with the National Bank of Poland and with the support of the Government of …

  • The Deputy Head of the National Bank of Ukraine said Russian banks have no future in Ukraine

    Banks that are partly owned by Russia should be able to “calmly and without panic” withdraw from the Ukrainian market where they have no future, the Deputy Chairman of the National Bank of Ukraine (NBU), Katerina Rozhkova said in an interview with Minfin web site.

    “There is no development for Russian banks here. This should be clear to everyone. On the other hand, as a regulator, we believe that the exit from the market should be civilized. No one should get bricked. Let the banks have the …

  • Head of the National Bank of Ukraine hands in resignation, reveals how much insolvent banks owe the country

    On April 10, the head of the National Bank of Ukraine (NBU) Valeria Hontareva handed in her resignation. She spoke about this during an unscheduled press conference.

    “After nearly three years of being the head of the NBU, I have decided to leave this position. I gave the president official notice of resignation at my own wish as of April 10 this year,” she said. She added that according to tradition, she is giving notice of this staff change in the NBU one month in advance. Thus Hontareva will …

  • Director of the National Anti-Corruption Bureau: NBU withdrew half a billion dollars from Ukraine

    The Director of the National Anti-Corruption Bureau of Ukraine (NABU), Artem Sytnyk, said during an interview with Vysoky Zamok web site that the NABU is investigating the multimillion-dollar refinancing of banks by the National Bank of Ukraine.

    "Regarding the so-called reform of the banking sector, as a result of which more than 80 banks ceased to exist, the National Police have many questions. This is not exactly our line of work. If we are talking about funds that the NBU allocated for …