Regulator clears way to privatize Sense Bank, Ukrgasbank
Sense Bank, nationalized in June 2023 (Photo: Sense Bank)
Ukraine’s Financial Stability Council has ruled that selling state-owned Sense Bank and Ukrgasbank would not undermine the stability of the country’s banking system, the National Bank of Ukraine (NBU) announced on Aug. 20.
The decision marks the first step in the banks’ privatization.
The NBU published the council’s conclusion, which fulfills a requirement of the IMF-backed economic and financial policy memorandum signed June 19, 2025. Under that agreement, Kyiv pledged to reduce the state’s share in the banking sector by selling state-owned stakes in key financial institutions.
“This review confirms that the sale of state-held shares in Sense Bank and Ukrgasbank will not have a negative impact on the banks’ financial condition or on overall banking-system stability, provided the sale follows the procedures set out by law,” the NBU said.
Council members also wrote that any divestment should be carefully managed to maximize the value of the banks’ shares.
Co-chairs at the meeting were Finance Minister Serhiy Marchenko and NBU Andriy Pyshnyy.
Earlier this year, the IMF declined to set firm deadlines for the privatization of Sense Bank and Ukrgasbank. In March, the NBU stated that the two banks are unlikely to be sold by the end of 2025.
The military war may be swinging in our favor, but the information war continues.
Just as an army needs soldiers, so does a free society need its journalists to ensure that people have access to honest, trustworthy voices to understand the world around them.
For the past five years, The New Voice of Ukraine has been working tirelessly to push back against Russian narratives and defend democracy. But we cannot do it alone.
Please consider supporting us on Patreon for just $5 a month – your donation does directly to supporting journalists and ensuring that this front of the infowar says solid and defended.
Thank you.
Follow us on Twitter, Facebook and Google News
