The bank will provide access to financial services for Ukrainians, in particular, in frontline, de-occupied and remote areas.
Ukraine will launch “Ukrposhta Bank”, which will operate under special rules to make banking services available to everyone, regardless of place of residence.
This was reported by the Ministry of Communities and Territories Development of Ukraine.
The Ukrainian government has transferred Pinbank shares to the management of Ukrposhta to create a postal bank. When the Verkhovna Rada adopts bill No. 12044, the bank will provide access to financial services for more than 30% of Ukrainians, in particular in frontline, de-occupied and remote areas.
The Ministry of Communities Development clarified what services will be available at the postal bank.
“Ukrposhta Bank will operate on the basis of a special limited banking license. The bank will be able to offer basic financial services: social payments, payment of bills, opening of accounts, etc. Particular attention will be paid to socially vulnerable categories of the population and small businesses in need of support,” the statement says.
Details on the work of Ukrposhta Bank
- The ministry also reported that thanks to the launch of the bank, the state will be able to save up to UAH 2.6 billion annually on expenses related to the payment of pensions and social assistance.
- Financial services will become available even in the most remote corners of Ukraine thanks to more than 25 thousand new service points.
- Thanks to the increase in non-cash payments, the level of corruption is expected to decrease and revenues to the state budget will increase.
- People with limited mobility and people with disabilities will be able to receive banking services at home.
- In the event of a power outage or communication, basic banking services will be available in frontline and rural areas.
Recall that on January 28, the Ukrainian Cabinet of Ministers made a decision to transfer the shares of the First Investment Bank to the Ministry of Infrastructure with subsequent transfer to Ukrposhta. Previously, the shares of this bank belonged to Russian oligarchs.
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