NBU distances itself from scandalous sale of Borivazh port by PrivatBank

Against the backdrop of a major scandal surrounding the sale of the "Borivazh" port by the state-owned PrivatBank, journalists attempted to obtain clarifications from the National Bank of Ukraine (NBU). 

The topic concerned the multi-billion hryvnia damage inflicted on the state budget, as well as the role of key figures in this process. However, the regulator stated that it has no authority to intervene in such matters.

The essence of the scandal

According to media reports, entities linked to Serhiy Tyhyrko acquired the "Borivazh" port with the assistance of PrivatBank’s acting head, Larysa Chernyshova, who had previously worked under Tyhyrko. This sparked a wave of criticism and accusations of protecting the interests of the bank’s former shareholders — Ihor Kolomoyskyi and Hennadiy Bogolyubov.

NBU’s position

In response to journalists’ inquiries, the National Bank emphasised that it does not interfere in the activities of state banks and does not possess information regarding strategies for compensating losses associated with Kolomoyskyi and Bogolyubov. The regulator’s stance is baffling, particularly in light of its banking supervision duties enshrined in the Law of Ukraine "On the National Bank of Ukraine".

Criticism from experts

Alexey Martynov, a former shareholder and member of PrivatBank’s supervisory board, noted that the NBU’s lack of reaction to such incidents appears extremely strange. In his words, PrivatBank’s actions under interim management are causing harm to the state, putting its financial system at risk.

«Когда государственный банк без надлежащего контроля совершает сделки, приводящие к многомиллиардным убыткам, возникает вопрос: кто реально защищает интересы государства в этой ситуации?» (When a state bank conducts transactions without proper control, resulting in multi-billion losses, the question arises: who is actually protecting the state’s interests in this situation?) — Martynov commented.

Law enforcement reaction

The National Anti-Corruption Bureau of Ukraine (NABU) has already launched an investigation into the officials of PrivatBank. The criminal case is expected to shed light on the details of this deal and determine who is responsible for the damage caused.