New Developments in Ukraine's Banking Sector
The Ukrainian government has decided to initiate the process of privatizing state shares in JSC "Sens Bank" and JSC "Ukrgasbank". This has been confirmed by the Ministry of Finance of Ukraine.
The sale of shares will be conducted under the law "On the Specifics of Selling Publicly Owned Bank Shares" and will occur in three phases: preparing shares for sale, conducting a competitive bidding process, and signing the purchase agreement.
The primary aim of this initiative is to reduce the state's stake in the banking sector and increase revenues for the state budget. It has been noted that decreasing state control over the banking sector is one of the key objectives of the Ministry of Finance within the government's action program.
Additionally, by the end of 2025, a competition will be announced to select a consultant for the sale of shares in JSC "Sens Bank" and JSC "Ukrgasbank".
On August 14, 2025, the Financial Stability Council reviewed the potential risks associated with the sale of these banks' shares for the financial system. It was confirmed that this sale would not negatively impact the stability of the banking system.
JSC "Ukrgasbank" is a Ukrainian commercial bank with a state stake of 94.94%, which came under state control in 2009.
JSC "Sens Bank", formerly known as "Alfa-Bank Ukraine", was officially nationalized in July 2023 due to the involvement of Russian shareholders who were placed under sanctions.
