Sense Bank sale moves forward
The Cabinet of Ministers has ordered the Ministry of Finance to accelerate the sale of Sense Bank. In a video address, Prime Minister Serhiy Koretskyi stressed that the sale should be carried out openly, under competitive conditions, and with maximum efficiency. He also said that both government officials and representatives of the banking regulator need to be involved in cleaning up the bank's operations.
Together with the National Bank of Ukraine, the finance ministry is expected to resolve the bank’s outstanding problems and introduce transparent, high-quality corporate governance. The proceeds from the sale are to be allocated to Ukraine's defense forces.
“The key requirement is to make the entire process transparent, competitive, and efficient,” Prime Minister Serhiy Koretskyi said.
Supervisory board controversy
At the same time, the National Bank of Ukraine concluded that Sense Bank's supervisory board chairman, Mykola Hladyshenko, does not meet independence requirements. NBU Governor Andriy Pyshnyi announced this from the floor of the Verkhovna Rada. According to Pyshnyi, the NBU launched a compliance review of the board chairman after the Mindich tapes were made public in May. The central bank twice asked the National Anti-Corruption Bureau and the Specialized Anti-Corruption Prosecutor's Office to share case files from the pre-trial investigation. In addition, the NBU opened an administrative proceeding to assess whether the entire supervisory board meets collective fitness standards.
The government and regulators are now focused on making the Sense Bank sale transparent and efficient, a step experts say should strengthen confidence in the country's financial system. The process is seen as an important part of stabilizing Ukraine's banking sector amid wartime economic uncertainty. Competitive and open bidding should draw in investors and generate funds for key defense needs.
In light of the ongoing compliance reviews by the National Bank of Ukraine, the urgency to expedite the sale of Sense Bank has become even more pronounced. This move aims to not only enhance transparency but also to bolster trust in the financial sector. For a deeper understanding of the regulatory challenges and the government's strategy, read more about how these developments are shaping the sale process amid new NBU compliance checks.