Paragraph 57 of the Memorandum of Economic and Financial Policies dated 19 June 2025 envisages a reduction in the state’s stake in the banking sector by preparing for sale its shares in the authorized capital of systemically important banks Sens Bank JSC and UKRGASBANK JSC.
In accordance with the Law of Ukraine On the Specifics of Selling State-Owned Shares in the Authorized Capital of Banks (the “Law”), the first stage of preparing bank stocks for sale begins with the government’s decision on such preparation based on the opinion of the Financial Stability Council (FSC) regarding the impact of such a sale on the financial condition and stability of the banking system.
At its meeting on 14 August 2025, the FSC discussed the relevant risks associated with the sale of Sens Bank JSC and UKRGASBANK JSC on the financial condition and stability of the banking system in accordance with the provisions of the Law.
FSC members agreed that the sale of shares in Sens Bank JSC and UKRGASBANK JSC would not have a negative impact on the financial condition and stability of the banking system under the sale procedure defined by the Law.
FSC members upheld the strategic task of reducing the state’s share in the banking sector by selling state-owned banks, but such sales must be carefully considered and aimed at increasing the value of the banks’ stocks.
FSC members also reviewed and discussed risks in the state-owned financial sector, particularly in its non-banking segment.
In addition, the FSC updated the composition of the working groups on financial development and domestic debt market development in light of the government reshuffle.
The meeting was attended by FSC co-chairs Minister of Finance of Ukraine Serhii Marchenko and NBU Governor Andriy Pyshnyy, as well as by Minister of Economy, Environment and Agriculture of Ukraine Oleksii Sobolev, Deputy Minister of Finance of Ukraine for European Integration Yuriy Draganchuk, NBU Deputy Governor Dmytro Oliinyk, Managing Director of the Deposit Guarantee Fund Olga Bilai, Deputy Head of the Office of the President of Ukraine Iryna Mudra, and other top officials of institutions comprising the FSC.
The FSC was established by presidential decree in March 2015 and provides a forum for the professional discussion of systemic risks to financial stability of the state.