Financial Stability Council opens way for govt for privatization of Sense Bank, Ukrgasbank
The Financial Stability Council (FSC) agreed that the sale of state-owned stakes in Sense Bank and Ukrgasbank would not have a negative impact on the financial condition and stability of the banking system within the sale procedure specified by law, which gives the government the opportunity to decide on such privatization.
"FSC members expressed support for the strategic task of reducing the state's share in the banking sector by selling state-owned banks, however, such sales should be balanced and aimed at increasing the value of banks' stakes," the message on the website of the National Bank of Ukraine said on Wednesday following the results of the FSC meeting on August 14.
The NBU recalled that Paragraph 57 of the Memorandum on Economic and Financial Policies of June 19, 2025 provides for a reduction in the state's share in the banking sector by preparing state-owned blocks of shares in Sense Bank and Ukrgasbank.
According to the law on the peculiarities of selling state-owned shares in banks' charter capital, the first stage of preparing a bank's shares for sale begins with the government's decision to prepare them based on the Financial Stability Council's (FSC) conclusion about the impact of the sale on the financial condition and stability of the banking system.
The FSC members also considered and discussed the risks in the activities of the state financial sector, in particular in its non-bank segment, and also updated the composition of the working groups on financial development and on development of the domestic debt market in view of the renewal of the government.
As reported, within the framework of the IMF program, Ukraine undertakes to reduce the state's share in the banking sector, which increased significantly during the war and by the middle of this year amounted to 54.4% in terms of total assets and 52.2% in net assets, and the number of state-controlled banks reached seven.