Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: The announcement of the visit was met with angry reactions as some called for banning it, considering it a sign of normalization with "Israel"
Israeli media: Saudi ambassador to the Palestinian Authority cancels his visit to al-Aqsa
Burkina Faso's military government says it had foiled a coup attempt the previous day: Statement
Supreme Political Council in Sanaa announces the dismissal of the current government headed by Abdulaziz bin Habtoor and assigns it to manage regular public affairs
Ministry of Health in Gaza: Two Palestinians injured by Israeli occupation forces gunfire east of Gaza Strip
Kremlin says Canada must bring to justice or extradite Nazi SS veteran who spoke in Parliament.
Kremlin: The terrorist attack on Nord Stream was de facto somehow organized by the United States and the United Kingdom.
Al Mayadeen's Correspondent in Baghdad: Turkish air strikes target villages in Rawanduz and Qandil in Iraqi Kurdistan.
Russian Foreign Ministry: Russia bans entry to Radakin, head of defense staff of UK armed forces who oversees training of Ukrainian military on UK territory.
Iranian Space Agency spokesperson told Al Mayadeen: The Revolutionary Guards Air Forces successfully launched the Noor 3 satellite into space.

Ukraine largerst bank experiences total failure in payment transaction

  • By Al Mayadeen English
  • Source: Agencies
  • 29 Apr 2023 20:30
  • 3 Shares
  • x

Payment systems in Ukraine have recently been subject to constant disruptions that are taking their toll on inner-banking transactions and client withdrawals and payments.

  • A woman wearing a Santa hat  uses an ATM machine belonging o Ukraine's largest bank PrivatBank, Kiev, Ukraine. (AFP)
    A woman wearing a Santa hat uses an ATM machine belonging to Ukraine's largest bank PrivatBank, Kiev, Ukraine  (AFP)

Ukraine's largest bank, PrivatBank, is experiencing massive transaction failures, as clients report on Saturday that they are unable to withdraw cash or pay by card.

The technical issue is speculated to be rooted in the disruption of Ukrainian payment systems as clients of different banks reported similar transaction failures, according to Kyiv News.

PrivatBank spokesperson says that the bank is working on resolving the issue which has disrupted payments all over Ukraine. Suspilne, a Ukrainian broadcaster revealed that inner bank money transfers are also experiencing disruptions.

The PrivatBank, founded in 1992, is Ukraine's largest bank, boasting $8.14 billion of liquid assets in 2021. The Bank was nationalized by the Ukrainian government in December 2016 and has since then been under the process of re-privatization, with the crisis in the country halting the efforts.

Since its previous owner was stripped from his stakes in the financial institution, PrivatBank has taken on several lawsuits to claim Ihor Kolomoisky assets in banks all over the world including Cyprus and the UK.

The NATO-prolonged war in Ukraine has devastated the Ukrainian economy and local industries. In 2022 Ukrainian Minister Serhii Marchenko said, "Tens of areas where hostilities are taking place account for half of the GDP. The most important sections are Kharkov, Kiev, and Mariupol, which made a very significant contribution to the GDP."

"Many supply chains are completely broken, many enterprises are physically destroyed, some are unable to work in war mode, many workers simply left," The Ukrainian Minister underlined.

According to Marchenko, the Ministry of Economy believed that the losses would cost Ukraine between a third to a half of its GDP. However, he also highlighted other estimates, which suggested that the losses would amount to a whopping $500 billion.

  • Ukrainian Banks
  • PrivatBank
  • Banking sector
  • Ukraine

Most Read

Russia destroyed leopard tank in Ukraine with fully-German crew

Russia destroyed leopard tank in Ukraine with fully-German crew

  • Europe
  • 23 Sep 2023
Ukrainian soldiers ride an APC on the front line near Bakhmut, in the Donetsk region, on June 5, 2023 (AP)

US sees Ukrainian army demoralized, no chance to win: Seymour Hersh

  • Europe
  • 21 Sep 2023
Blinken’s ‘Variable Geometry’ for a New Cold War

Blinken’s ‘Variable Geometry’ for a New Cold War

  • Analysis
  • 24 Sep 2023
Zelensky joins Canadian Parliament’s ovation to WWII Nazi soldier

Zelensky joins Canadian Parliament’s ovation to WWII Nazi soldier

  • US & Canada
  • 25 Sep 2023

Coverage

All
Morocco & Libya Disasters

Read Next

All
How Zelensky is alienating Kiev's allies
Europe

'Active animosity': How Zelensky's faux pas are alienating Kiev allies

Solomon Islands
Asia Pacific

Solomon Islands PM says missed Biden summit to avoid 'lecture'

Sacred Ethiopian tablet looted by British troops repatriated to church
Europe

Sacred Ethiopian tablet looted by British troops repatriated to church

An undated photo of a tank with mounted howitzers (Panzerhaubitze 2000) of the German armed forces Bundeswehr
Europe

Ukraine became a testing field of weapons for arm manufacturers: WSJ

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS