The government has begun preparations for the sale of Sense Bank and Ukrgasbank: a special commission has been created

The Cabinet of Ministers of Ukraine has created a special commission that will organize the sale of state-owned stakes in Sense Bank and Ukrgasbank. It will be responsible for conducting tenders, identifying their participants, and agreeing on the terms of sale.

This was announced by the Prime Minister of Ukraine Serhiy Koretsky.

According to him, representatives of international financial organizations and institutions of the European Union may join the work of the commission.

What powers will the commission have

The created body will be responsible for the key stages of preparing and conducting a tender sale of state-owned stakes in banks.

In particular, the commission:

will determine the procedure for conducting tenders;
will make decisions on the admission of potential buyers;
will agree on the starting price of the auctions, taking into account the recommendations of advisors;
will determine the winners of the tenders;
will agree on the final sale price;
will submit relevant decisions for approval to the Cabinet of Ministers.

At the same time, the Ministry of Finance has already selected advisors to support the sale of both financial institutions.

What is known about the situation in banks

Previously, the National Bank of Ukraine applied pressure measures to Ukrgasbank and four non-bank financial institutions due to violations of legislation in the field of preventing money laundering.

In addition, in September, Sense Bank reported difficulties with personnel decisions regarding the chairman of the board, Oleksiy Stupak.

In particular, the bank noted that the decision to dismiss him, which was demanded by the NBU, falls within the competence of the supervisory board. At the same time, its work was complicated by the lack of a quorum due to the need for the approval of new members by the National Bank.

The creation of a government commission is a preparatory stage for the possible sale of state-owned blocks of shares in banks. The final terms of the deals, the value of the assets, and potential buyers have not yet been announced.