Thursday30 January 2025
podrobnosti.org.ua

A major state bank in Ukraine is set to be put up for sale, with the name officially announced.

Ukraine is now prepared to sell the state-owned Sens Bank to a private investor. Additionally, the Cabinet of Ministers plans to consider the privatization of a stake in Ukrnafta.
В Украине выставят на продажу крупный государственный банк: названа его имя.

This was announced by the Minister of Economy, Yulia Svyrydenko, as reported by Forbes. OBOZ.UA reports. This information comes from Kontakty.UA.

She noted that the state's goal is to retain "only strategic enterprises" under its management.

"We are ready to privatize Sens Bank and also consider the sale of a stake in Ukrnafta, which desperately needs modernization. ... Where the private sector can effectively restore and modernize loss-making companies, the market should operate," the statement says.

At the same time, she emphasized that within the framework of public-private partnerships, Ukraine is considering the possibility of a concession for the Black Sea port. According to Svyrydenko, interest in this is already evident "both in the domestic market and from international investors."

In total, there are 7 state banks in Ukraine. They are:

  • PrivatBank;
  • Oschadbank;
  • Ukreximbank;
  • Ukrgasbank;
  • Sens Bank;
  • PIN Bank;
  • Motorbank.

This allows the state to control over 50% of the banking market, which is significantly high – according to international experience, it should not exceed 25%.

However, the majority of state banks are intended for privatization. As Prime Minister Denys Shmyhal stated in the fall of 2024, only Oschadbank and Ukreximbank are definitely not going to be sold.

"We are not currently considering 'Ukreximbank' and 'Oschad'. We do not have a strategy for the privatization of these two banks. We will discuss the others," said the Prime Minister. He also reminded that regarding Ukrgasbank, an agreement was reached before the war for the International Finance Corporation (IFC) to acquire a 25% stake in its capital.

For his part, Deputy Finance Minister Yuriy Draganchuk emphasized at that time: foreign buyers are interested in acquiring Sens Bank. Foreign investors were also considering the possibility of purchasing Ukrgasbank.

"There is interest from foreign investors in two state banks: Ukrgasbank and Sens Bank, and we are actively preparing them for sale. We received these signals at the end of last year (2023 – Ed.), starting from the fall," Draganchuk said.

As reported by OBOZ.UA, earlier, the shareholder of the "TAS" group, Serhiy Tihipko, received permission from the Antimonopoly Committee of Ukraine (AMCU) for concentration through the indirect acquisition of Idea Bank. This concerns 100% of the institution's shares.