PrivatBank

The largest bank in Ukraine and the biggest hole in its balance sheet

PrivatBank is the largest retail bank in Ukraine, with a customer base exceeding 20 million people. Until December 2016, it was owned by Ihor Kolomoyskyi (49.98%) and Hennadiy Boholiubov (41.6%). According to an independent investigation by Kroll, for at least 10 years before nationalization, the bank was subject to fraudulent activities causing damages of $5.5 billion. The state recapitalized the bank with UAH 116.8 billion — effectively at the taxpayers' expense.

London court, $3 billion and no payment

On July 30, 2025, the High Court of England ruled in favor of PrivatBank. The judge found that Kolomoyskyi "considered himself above the law" and their objections were "entirely based on dishonest grounds." On November 10, the court ordered Kolomoyskyi and Boholiubov to pay the bank more than $3 billion by November 24, 2025. No payments have been made — the bank has initiated enforcement through cross-border execution mechanisms.

Management wanted and at Monobank

Among former shareholders whose debts were written off the balance sheet: Kolomoyskyi (49.98%), Boholiubov (41.6%), Oleksandr Dubilet (2.7%), Tymur Novikov (1.36%), Oleh Horokhovskyi (0.32%). After the bank's collapse, some of its top management founded Monobank. Three of them are wanted by NABU or under a remote arrest warrant. Horokhovskyi is on the Entrepreneur Council under Zelenskyy. Kolomoyskyi is in a pre-trial detention center. Boholiubov left Ukraine in June 2024 using another citizen's passport — his whereabouts are unknown.