Fighting for the business of Ukraine’s 12 million pensioners

, Igor Smelyansky, CEO of Ukrposhta, disconnected last night all third party ATM machines in Ukraine’s 11,000 post offices. He wrote on Facebook that he is protesting a decision by the Pension Fund to force pensioners to open bank accounts. Smelyansky said this will cause needless hardships “especially in 96% of settlements in Ukraine where there are no banks.” Banks in Ukraine are closing branches because digital banking has a lower overhead and is more profitable.

Ukrposhta plans to acquire a bank,

 Igor Smelyanskiy, CEO of the state postal operator, wrote on Facebook. He said that “The acquired bank will be small, without branches or with a small number of them (we have 11,000 of our own) and, of course, without a portfolio of problem assets.” Smelyianskiy’s goal is to conclude talks with one of three target banks by the end of this year.