The Government Approved the Principle Directions of Privatbank’s Activity for 2020-2024

In early September 2020, the Government of Ukraine has approved the updated Strategic Reform Principles of the State Banking Sector.

The updated Principles became the basis for reviewing and updating the strategies of the state sector banks.

On December 23, 2020, at the meeting of the Government, the order "On approval of the main activities of the Joint-Stock Company Commercial Bank "PrivatBank" for 2020-2024", developed by the Ministry of Finance of Ukraine, was adopted.

According to Article 7 of the Law of Ukraine "On Banks and Banking Activity", the state is the sole shareholder of the state bank. The functions of managing the corporate rights of the state in the state bank are performed by the Cabinet of Ministers of Ukraine.

According to the Law, the Cabinet of Ministers of Ukraine also performs the functions of the highest governing body of a state bank.

Determination of the main (strategic) directions of activity for the state bank is the exclusive competence of the supreme body.

The decision of the supreme body is formalized by acts of the Cabinet of Ministers of Ukraine, the drafts of which are prepared and submitted to the Cabinet of Ministers of Ukraine by the Ministry of Finance and are not subject to agreement with other interested bodies.

The adopted order of the Cabinet of Ministers of Ukraine "On approval of the main activities of the Joint-Stock Company Commercial Bank "PrivatBank" for 2020-2024" defines the main activities of PrivatBank for 2020 - 2024, which will ensure its proper functioning and will contribute to the effective management of the state bank, protection of the rights of depositors, creditors, the state as a shareholder and will be the basis for developing a strategy to ensure its further development.

According to the main directions of activities of PrivatBank for 2020 - 2024, the bank's mission is to provide high quality financial services, which will support and strengthen its market position as the leading retail bank in Ukraine.