War-Weary Ukraine Shutters Cash-Starved Banks as Trust Falls

Maidan Square in Kiev, Ukraine

(Bloomberg – bloomberg.com – Volodymyr Verbyany, Andras Gergely – June 12, 2015) When Vasyl Klos plunked $9,000 into a bank branch in his hometown of Lviv, Ukraine, in 2013, he assumed it was safe because it was German owned. He was wrong. Bank Forum JSC had already been sold by Commerzbank AG to Ukrainian businessman Vadim Novinsky, a fact Klos […]

» Read more

Fight between Ukraine’s government and oligarchs embroils largest lender Privatbank

Maidan Square in Kiev, Ukraine

(Business New Europe – bne.eu – Graham Stack in Kyiv – April 1, 2015) The war between Ukraine’s government and the oligarchs has reached into the fragile banking system, as the central bank felt moved to reassure depositors in Privatbank, the country’s largest, after allies of President Petro Poroshenko made murder allegations regarding its owner, Ihor Kolomoisky. The National Bank […]

» Read more