Before the end of 2021, in cooperation with the Ukrainian Ministry of Finance, PrivatBank and Oschadbank must adopt roadmaps for their partial or full privatization, the press service of the National Bank of Ukraine (NBU) reports.
“According to the Memorandum on Economic and Financial Policy, to further reduce the state’s share in banks, PrivatBank and Oschadbank will develop and approve a roadmap in cooperation with the Ministry of Finance until the end of 2021, which will determine steps needed for bringing each these banks to market for partial or full privatization and will outline legislative changes that may be needed to implement the presented privatization options,” the NBU said.
The Cabinet of Ministers intends to adopt these plans until the end of January 2022. The National Bank also reminded that in accordance with the Strategy for the Development of the Financial Sector of Ukraine and the Strategy for Reforming the Public Banking Sector, the state’s goal was to reduce the share of state-owned banks in the Ukrainian banking sector to 25% until 2025. (Ukrinform/Business World Magazine)