The Financial and Capital Market Commission hereby provides a comment regarding statements in the independent auditors' report of 18.03.2011 on the JSC ''PrivatBank'' as follow:

Prior to decision-making on revoking a licence, under the administrative process regulatory provisions the Financial and Capital Market Commission must evaluate existing the circumstances and effectiveness of such decision in each particular case, including the need, adequacy and necessity.  Please note that the specified voting rights prohibition, i.e., imposing prohibition from using voting rights on a credit institution' s shareholder who holds a qualifying holding in it  (10 percent of share capital and more), as an isolated fact does not necessarily constitute sufficient grounds for the revoking of licence.