OREANDA-NEWS. Appointment of Aleksandar Kukic for the Head of Latvian subsidiary of PrivatBank will allow the bank to strengthen its position on European markets.

Aleksandar Kukic, an ex-Executive Director of J.P.Morgan Bank, UK, has been appointed Chairman of the Board of PrivatBank Latvia. The appointment of experienced European financier for the Chairman of the Board of AS “PrivatBank” has been approved by the Latvian Financial and Capital Market Commission.

“PrivatBank’s banking Group is known worldwide as an innovator. When I had the chance to take a closer look at the Bank's work, I was impressed by its unique technologies, the majority of which surpass world giants’ projects, - said Aleksandar Kukic, Chairman of the Board of PrivatBank Latvia. - These technologies will be in demand on the European market and I am confident that the Bank will become one of the leaders in digital banking and convenient services to Latvians and many other Europeans."

According to the AS “PrivatBank” Press service, the appointment Chairman of the Board of PrivatBank of the banker with long-term working experience in one of major international banks J.P.Morgan will permit the bank to improve AML and Compliance procedures considering best practices of American banks. Moreover, taking into account that Kukic’s main specialisation was credit risk assessment in banking sector, risk management procedures in both Latvian and Ukrainian PrivatBank will keep up with the best international standards of global banks.

According to the data of the Association of Latvian Commercial Banks, PrivatBank is ranked the 9th among Latvian banks in terms of equity and reserves.