“Hybrid war” is being waged against the key management in PrivatBank – CEO

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"Hybrid war" is being waged against the key management in PrivatBank - CEO 1

PrivatBank Chief Petr Krumphanzl says there is a “hybrid war” being waged against the bank’s key management, in comments to the FT.

Krumphanzl says he faces six “spurious” criminal investigations as active investigations into PrivatBank by multiple law enforcement agencies continue. The IMF has agreed a $5.5 billion loan for Ukraine contingent on the government’s safeguarding of the 2016 bank clean-up.

He told the FT “If the rhetoric changes and the IMF’s position becomes negative, then many of these investors will actually start to withdraw the money that they already put in the country.”

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