KYIV, Jan 16 - PrivatBank, prior to its nationalization at the end of 2016, was the object of large scale and coordinated fraudulent actions, which led to losses of at least $5.5 billion, the National Bank of Ukraine (NBU) has said, with reference to Kroll hired for the forensic audit of the bank.

"The results of an independent investigation by the company Kroll have been presented to the National Bank of Ukraine. The investigation has identified that PrivatBank was subjected to a large scale and coordinated fraud over at least a ten-year period ending December 2016, which resulted in the bank suffering a loss of at least $5.5 billion," reads a report on the NBU's website.