All Ukrainian banks owned by Russia put up for sale

During a broadcast on the Inter TV channel, Acting Deputy Governor of the National Bank of Ukraine Kateryna Rozhkova reported  that all the banks with state-owned Russian capital in Ukraine have been put up for sale.

"We know for certain that all banks with state-owned Russian capital that are currently operating in Ukraine are negotiating a potential sale. As a regulator of the banking market, we believe that this is the best way to leave the Ukrainian market, as in today’s conditions it is impossible to talk about the further development of these banks on the territory of Ukraine. It is a civilized way to sell the banks," the representative of the regulator said.

She added that to date, these banks have been recapitalized and have enough assets to meet requirements towards their customers.

At the same time, Rozhkova said that under the guarantee of the Guarantee Fund for Individual Deposits, in the event of the closure of these banks, 8.5 billion hryvnia ($320 million USD) out of 21 billion hryvnia ($780 million USD) in individual deposits in banks with Russian state capital would be released.

"Today, about 21 billion hryvnia (($780 million USD) of deposits are concentrated in banks with state Russian capital, of which 8.5 billion hryvnia ($320 million USD) are guaranteed by the Fund. The sanctions applied to these banks are aimed primarily at protecting these investors," she said.

On March 16, Ukraine imposed sanctions for a period of one year in relation to PJSC "Sberbank", PJSC "VS Bank", PJSC "Joint Stock Commercial Industrial and Investment Bank" (Prominvestbank), PJSC "VTB Bank", and PJSC "BM Bank", due to their ownership by the Russian state. The sanctions provide for restrictions on the withdrawal of capital outside the country by affiliated persons.


  Ukraine, Russia, Russian banks, Sanctions