Two state-owned banks to be sold — what awaits depositors

In 2025, two state-owned banks will be put up for sale in the event of an improvement in the security situation. Privatization is envisaged in a memorandum with the International Monetary Fund (IMF).

This was stated by the Head of the National Bank of Ukraine (NBU) Andrii Pyshnyi, Interfax-Ukraine reports.

More on the sale of state-owned banks

He noted that the memorandum with the IMF prioritizes the privatization of two state-owned banks — Ukrgasbank and Sens Bank.

The draft law on the privatization of state-owned banks adopted by the Parliament is expected to create additional opportunities and space for dialogue with private investors.

"According to the memorandum with the IMF, Sens Bank and Ukrgasbank are the two priority banks to start the privatization process with the involvement of a consultant who will help choose the best options. Therefore, I very much hope that 2025 will bring good news," the Head of the NBU said.

As the Head says, the regulator's assessment of resilience confirmed that all banks are in compliance with the regulations.

"We have, as they say, smoothly navigated a crucial stage in the transition to a new capital structure. The banking system is operationally profitable and is increasing its appetite for lending. The share of income from lending in the banks' revenue structure is growing," Pyshnyi added.

According to Pyshnyi, a 20% annual growth in the loan portfolio, combined with operational stability, indicates that the Ukrainian banking system could become attractive to investors.

As is known, the government planned to reduce its presence in the banking sector. The sale of PrivatBank was considered, but the decision was postponed due to the war. It was also reported that the privatization of state-owned banks should not affect depositors in any way.

What else you should know

As a reminder, Oschadbank has warned its clients about an "unpleasant surprise" in the form of possible automatic debiting of funds from accounts under the concluded agreements. The bank informed in which cases this is possible and how to act.

We also wrote that the state-owned PrivatBank blocks access to all accounts of clients who are abroad as refugees. One of the clients was outraged by the cynicism of the state policy towards its citizens, as the financial institution did not send any warning.