Cabinet expedites Sense Bank privatization
Sense Bank
Ukraine’s Finance Ministry has been ordered to accelerate
the sale of state-owned Sense
Bank, with proceeds to be channeled into the military budget, PM Sergii
Koretskyi announced on Aug. 20.
Koretskyi added that engaging an international investment adviser will help make the sale process more transparent, competitive and effective. He added that the Finance Ministry and the National Bank of Ukraine must resolve the bank’s accumulated problems and ensure transparent, high-quality corporate governance.
“It would be very symbolic if funds from the sale of nationalized Russian assets, such as Sense Bank, went to support the Defense Forces and meet their needs,” Koretskyi wrote in a Telegram post.
The announcement one day after the National Anti-Corruption Bureau of Ukraine (NABU) published an investigation that implicated Sense Bank in a money laundering scheme tied to former energy ministry Herman Halushchenko.
On Aug. 19, the government suspended Mykola
Hladyshenko, chairman of Sense Bank’s supervisory board, and initiated the
suspension of the bank’s CEO, Oleksii Stupak. A committee of the National Bank
of Ukraine later ruled that Hladyshenko did not meet legal criteria for
independence.
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