At its first session, the all-new supervisory board of the nationalized PrivatBank elected the financier and author of the program for reforming the banking system of Turkey Engin Akçakoca as the chairperson of the supervisory board, according to UNIAN materials, Minister of Finance of Ukraine Alexander Danyliuk wrote in Facebook.

“I am confident that Engin Akçakoca, who was elected as the chairman of the board, will cope with his duties excellently. Engin is the legendary banker, who helped Turkey to overcome the financial crisis, and today, he will help to recover the largest bank in the country”, Danyliuk said.

He noted that a new supervisory board of PrivatBank was formed from the best world specialists, most of which are foreigners and representatives of international financial organizations.

“PrivatBank” (Dnipro) has been operating on the market of Ukraine since 1992 and is the largest bank in terms of volume of assets. On December 18, the Cabinet of Ministers passed the decision to nationalize the bank, guided by the results of the session of the National Security and Defense Council at the suggestion of the National Bank of Ukraine.

On December 22, the Ministry of Finance presented a new chairperson of the management board to the bank staff – Former Minister of Finance of Ukraine Alexander Shlapak – and announced about the appointment of a new supervisory board of the financial institution. The composition of the board included EBRD’s Managing Director for Eastern Europe and the Caucasus Francis Malige, Deputy Minister of Finance Oksana Markarova, Member of EBRD’s Board of Directors Artem Shevalev, Managing Partner of Apollo Management Andrea Manetta, Financier and Author of Reforms of Financial Sector in Ireland Steven Selig, Naftogaz’s Commissioner for Advanced Projects Sergei Alekseenko as well as Financier and Author of the Program for Reforming the Banking System of Turkey Engin Akçakoca.