Over the next five years, the Finance Ministry wants to more than cut in half state ownership in Ukraine’s banking sector

Over the next five years, the Finance Ministry wants to more than cut in half state ownership in Ukraine’s banking sector, first with the privatization of UkrGasBank in 2020 and, later, of PrivatBank in 2022, Ukrinform reports. Yuriy Galeta, deputy finance minister, says the goal is to reduce state ownership of the banking sector from 55% today to 24%. He noted that a third state bank, Oschadbank, works closely with the EBRD. Last May, EBRD President Suma Chakrabarti said in Kyiv that the development bank would like to take a stake in Oschadbank.