Ukrainian authorities decided to sell Ukrgasbank and Sense Bank to foreigners – Kommersant

Deputy Minister of Finance of Ukraine Yuriy Draganchuk said that foreign investors are interested in purchasing two Ukrainian state-owned banks – Ukrgasbank and Sense Bank. The country’s authorities, according to him, adhere to a strategy of reducing the banking sector.

“We have interest from foreign investors in two state-owned banks. These are Ukrgasbank and Sense Bank and we are actively preparing them for sale. We received these signals at the end of last year, starting in the fall,” said Mr. Draganchuk (quoted from Economic Pravda).

He added that the Ministry of Finance will soon select financial advisers for these banks. The Ukrainian government, according to Yuriy Draganchuk, together with the World Bank is preparing laws that will make the sale procedure more transparent.

The Deputy Minister also said that the country’s authorities do not rule out the sale of Privatbank in the future. Now, according to him, the state is ready to invest money in it, since it generates about a billion dollars in the country’s budget revenue.

In mid-July 2023, the Ukrainian government nationalized Sense Bank (formerly Alfa Bank Ukraine), which belonged to the holding of billionaire Mikhail Fridman ABH Holdings SA. In early 2024, ABHH demanded from Ukraine to pay compensation in the amount of $1 billion for the “illegal expropriation” of the bank.

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Petr Buzlaev