The privatization of state-controlled banks, whose number has increased to five and with a market shareof 56%, can be started even before the end of the war, according to the deputy head of the NBU, Kateryna Rozhkova.
“If any institutional investors, large investors, becomes interested in acquiring one of these state banks, then I would not wait for the end of the war“, she said.
According to Rozhkova, the National Bank is asking the International Finance Corporation (IFC) and the EBRD to continue their work on the privatization of Ukrgasbank and Oschadbank, which began before the invasion. She also reported that the NBU intends to audit state-owned banks’ updated strategies and financial conditions before making further decisions regarding their privatization.
As Rozhkova noted, the National Bank can decide on a recommendation on the best way to privatize this or that financial institution, fully or partially, etc.