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1868 Nationalisation of inland telegraphs under the General Post Office with the Telegraph Act 1868. [69] 1875 Suez Canal Company - The Egyptian share in the company was bought by the government. 1912 Nationalisation of National Telephone Company under the GPO, apart from Portsmouth and Hull. The Portsmouth telephone service was nationalised ...
By the moment of bank's nationalization at the end of 2016 it had become the largest private bank in Ukraine. As of today, more than 22 million customers have opened their accounts in the bank; it serves about 60% of transactions and half of payment cards issued in Ukraine, and 40% of deposits of the entire banking system are concentrated in it.
Nationalization may produce other effects, such as reducing competition in the marketplace, which in turn reduces incentives to innovation and maintains high prices. In the short run, nationalization can provide a larger revenue stream for government but may cause that industry to falter depending on the motivations of the nationalizing party. [9]
Furthermore, there was a great resentment against class banking in India, which had left the poor (the majority population) unbanked. [2] After becoming Prime Minister, Gandhi expressed the intention of nationalising the banks in a paper titled, "Stray thoughts on Bank Nationalisation" in order to alleviate poverty. [ 3 ]
Nationalization and consolidation of the country's banks received the highest priority in the earliest years of the People's Republic, and banking was the first sector to be completely socialized. In the period of recovery after the Chinese civil war (1949–52), the People's Bank of China moved very effectively to halt raging inflation and ...
In 2010 the bank was split into two parts (assets and banking) to aid the eventual sale of the bank back to the private sector. On 14 September 2007, the bank sought and received a liquidity support facility from the Bank of England, [1] as a result of its exposure in the credit markets, during the 2008 financial crisis.
Workers and maybe the military now in control of the state were favoring re-nationalization, according to one report. "[L] iberal economic policy is tarred with [the old regime's] corruption," said Michael Wahid Hanna, in Cairo for the U.S.-based Century Foundation . [ 5 ]
Nationalization could be an effective way to curb this political power and open the door to reform. Another advantage of nationalization is that it gives the government greater knowledge, understanding, and capabilities within the financial markets, and may enhance the government's ability to act effectively during times of crisis. [21]