PrivatBank to appeal decision of court ruled to ban election of board chairman.

State PrivatBank (Kyiv) will appeal the decision of the Economic Court of Kyiv made on February 24, 2021 and ruled to secure the second claim of the primary trade union organization of employees of the financial institution, which the court forbade any action to elect and appoint the board chairman of the bank under a first claim, the press service of the bank said on Friday.

"The lawsuit and petitions to secure them filed by the trade union is another attempt to destabilize the work of the bank," the bank said in the statement.

According to the National Bank of Ukraine, as of January 1, 2021, PrivatBank ranked first in terms of total assets (UAH 568.244 billion) among 73 banks operating in the country.

On December 18, 2016, the government of Ukraine decided to nationalize PrivatBank and poured over UAH 155 billion into its capital.

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