Economy

Ukraine finds investors to sell two state-owned banks

Ukraine is preparing to sell two state-owned banks and has already found buyers for them. Deputy Minister of Finance of Ukraine Yuriy Draganchuk said this in a commentary to Ekonomichna Pravda, reports

“We have foreign investors’ interest in two state-owned banks. These are Ukrgasbank and Sens Bank, and we are actively preparing them for sale. We received these signals at the end of last year, starting in autumn,”

– the official told the publication.

Draganchuk claims that the Ministry of Finance will soon hire special financial advisers for this purpose.

However, according to the official, there is currently no talk of privatising Privatbank. Despite the strategy of reducing state participation in the banking sector, the government is not ready to lose $1 billion in profits from this financial institution.

Today, there are 5 state-owned banks in Ukraine (Privatbank, Ukreximbank, Ukrgasbank, Oschadbank and Sens Bank), which together account for more than half of all banking assets in the country.