Ukrainian government agrees to nationalize Sens Bank

Prime Minister Denys Shmyhal made this announcement during the government meeting, stating, "Today, the Government is deciding on the state's participation in this procedure to withdraw the bank from the market."

He emphasized that the state will fully own the bank's shares. The Ministry of Finance will act as the corporate governance body for the bank's shares, allowing the appointment of new management for the financial institution in the shortest possible time.
The decision aims to ensure stability in the Ukrainian banking system and protect the interests of depositors since sanctioned individuals indirectly owned the bank.
Shmyhal also highlighted that the nationalization would not affect the bank's ability to fulfill its obligations to depositors and clients.

Nationalization of Sens Bank
Yesterday, the National Bank of Ukraine (NBU) decided to transfer Sense Bank (formerly known as Alfa-Bank) to state ownership, as its owners are Russian oligarchs under sanctions. These are Mikhail Fridman, Petr Aven and Andrey Kosogov.

The NBU noted that the owners of Sens Bank have ties to the regime of the aggressor country, and they have been subject to sanctions in the EU, the UK, Canada, Switzerland, Australia, and New Zealand, which include asset freezes.

It is worth noting that personal sanctions were imposed against the above-mentioned Russian oligarchs by the decree of the President of Ukraine Volodymyr Zelenskyy.

Therefore, on July 21, 2023, the Deposit Guarantee Fund introduced a temporary administration at Sens Bank. Later, the Cabinet of Ministers announced its agreement to nationalize the financial institution. At the same time, the bank's customers are promised that all services will operate as usual.