Hungarian OTP Bank is considering the privatization of the Sense Bank.

Hungarian group OTP Bank Plc. is interested in buying Sense Bank, which the state nationalized in the summer of 2023. EP sources confirmed that foreign banking groups are interested in privatizing two state banks — Sense Bank and Ukrgasbank. Potential candidates to acquire Sense include Hungarian OTP, which already operates in the Ukrainian market, and Dragon Capital, which would consider such an acquisition if the price is attractive.

If the deal goes through and the Ukrainian OTP merges with Sense, the new bank could become the fourth largest bank in terms of net assets in Ukraine. At the same time, if OTP’s interest is genuine, then the potential sale of Sense Bank may encounter specific difficulties because the Hungarian group still operates on Russian territory.

In addition, the Ministry of Finance has intensified negotiations with the IFC regarding the agreement on its entry into the capital of Ukrgasbank. The IFC can claim 20% of the bank’s shares.