• 17/07/2024 14:38

Shmigal promised the European Commission to reduce the number of state banks

Prime Minister of Ukraine Denis Shmigal presented the plan for the Ukraine Facility to the President of the European Commission Ursulie von der Leyen during a meeting in Brussels. One of the points is to reduce the number of state-owned banks. This was reported by the press service of the Ministry of Finance.

Schmigal promised the European Commission to reduce the number of state banks

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What the Ukrainian government promises

    Improvement of revenue management, public finances, public debt, public investments, audit system and financial control. Bringing Ukrainian legislation into line with EU legislation and FATF standards, including with regard to targeted financial sanctions and financial investigations. Implementation of comprehensive measures to reduce the state share in the banking sector, as well as solve the problem of problem loans.

Earlier, the Ministry of Finance wrote that Ukraine received from the EU the first tranche of macro-financial assistance worth 4.5 billion euros within the framework of the Ukraine Facility program.

Ukraine may receive the next tranche in the amount of 1.5 billion euros as early as April based on the results of satisfactory implementation of reforms and a positive assessment from the European Commission.

Share of state banks in the market

According to the National Bank, in Ukraine 62 banks are currently operating. 63% of the total profit of all banks falls on 5 state-owned banks – UAH 54.71 billion (as of February 2024).

According to Opendatabot, the largest state-owned banks in Ukraine are Privatbank, Ukreximbank, Oschad, Sens and Ukrgasbank.

Schmigal promised the European Commission to reduce number of state banks

Market distribution between state banks

Recall that in January information appeared that Ukrgasbank and Sense Bank were ready to buy foreign investors. Deputy Minister of Finance Yuri Draganchuk said that the government is preparing them for sale.

    Banks

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