Ukraine central bank warns against move to reverse PrivatBank nationalisation

Ukraine risks returning to economic instability, higher inflation and currency volatility if it loses a legal case over the nationalisation of PrivatBank, Central Bank Governor Yakiv Smoliy said on Thursday.

A lower court in Kiev earlier ruled that the 2016 nationalisation of PrivatBank, Ukraine's largest lender, was illegal. The bank used to be owned by a powerful tycoon who is now at loggerheads with the government. The central bank will appeal the decision.