KIEV, May 15 ??“ PrivatBank, Ukraine??™s biggest bank by assets, agreed with Georgia's TaoBank on the purchase of a large stake in the Georgian bank, PrivatBank reported in a press release.

"TaoBank will be our partner in Georgia. Today, the heads of the both banks signed a preliminary agreement on purchasing a large stake in the Georgian bank, which will be implemented after receiving permission for the deal from the according regulatory bodies in Ukraine and Georgia," the press release reads.