Ukraine's Postal Chief Fires Back at Central Bank Governor, Accusing Him of Waging War

Ihor Smilianskyi Responds to Andriy Pyshnyi's Criticism

According to Главком: The CEO of Ukrposhta, Ihor Smilianskyi, has pushed back against remarks from National Bank of Ukraine (NBU) Governor Andriy Pyshnyi, who questioned the company's corporate governance, strategy, and management framework. Smilianskyi denied any crisis, pointing to an approved strategy, automated logistics, and the rollout of new services, while also accusing Pyshnyi of waging a 'war' against the postal service.

Pyshnyi had earlier claimed that Ukrposhta was facing a corporate governance crisis. In response, Smilianskyi stated, 'There is no crisis whatsoever.' He explained that the previous supervisory board's term ended in a routine manner and that a new board is being formed with support from the European Bank for Reconstruction and Development. Ukrposhta's strategy was officially approved by its supervisory board on February 20, 2025.

Automation and New Services at Ukrposhta

Smilianskyi also addressed the proposed financial inclusion bank project, a key point of contention between Ukrposhta and the NBU. He dismissed claims that the company is stagnating, highlighting that Ukrposhta has fully automated its logistics for €14 million, enabling 100% of Ukraine's populated areas to process bank card payments.

'Ukrposhta did this-not the banks. And it did so for just 30% of the annual IT budget of one of the smaller state-owned banks.' - Ihor Smilianskyi

Smilianskyi characterized Pyshnyi's suggestion that the CEO should be replaced as 'finding a way to get rid of Smilianskyi,' emphasizing that it has nothing to do with reality. He also noted that while some services-such as cash payments, pensions, newspapers, and letters-are declining, others are growing. At the end of March, the NBU questioned Smilianskyi's professional competence, to which he responded, 'I am not the result of a crisis.'

Wrapping up his rebuttal, Smilianskyi sarcastically remarked, 'Ukrposhta - 5, NBU - 0,' underscoring his confidence in the company's progress.

This clash between Ukrposhta and the NBU highlights broader tensions in Ukraine's economy, where cooperation between state agencies and public enterprises often comes under scrutiny. Smilianskyi's claims of automation and new service development reflect Ukrposhta's push to stay competitive in a shifting market. Meanwhile, the NBU's stance underscores the need for stronger corporate governance in state-owned firms to ensure efficiency and transparency.

In light of the ongoing tensions between Ukrposhta and the National Bank of Ukraine, it's important to consider recent developments that have added to the complexity of the situation. Notably, the central bank has imposed a significant fine on Ukrposhta for violations in the payment market, which raises questions about the regulatory environment and the implications for the postal service's operations. For a deeper understanding of these financial penalties and their potential impact, you can read more about the recent fine imposed on Ukrposhta.