The Largest Banks in Ukraine Privatize Through the London Stock Exchange

Monday, July 19, 2021
1 MIN
The Largest Banks in Ukraine Privatize Through the London Stock Exchange

The National Bank of Ukraine began to withdraw large Ukrainian banks to IPOs as a tool for privatizing state financial institutions

Privatbank, Oschadbank, Ukrgasbank, Ukreximbank are already ready for partial or 100% privatization. According to the head of the National Bank of Ukraine Kyrylo Shevchenko, at his meeting with members of the London Stock Exchange, it was decided to bring banks to the public sale of shares.

“We have agreed with representatives of the London Stock Exchange to hold joint events with the aim of further banks entering the IPO, which is one of the instruments of privatization.”

The strategic goal of the NBU and the government of Ukraine is to reduce the participation of the state in the banking sector to 25% by 2025.

 

"Undoubtedly, this will help the Ukrainian banking system to become more independent and invest.com/investing-in-ukraine/service-for-investors/promote-your-business/" rel="dofollow">promote competitiveness. I would like to note that the first step of our privatization program was to reduce the NPL in banks from 48.47% (as of July 1, 2020) to 37.85% (as of July 1, 2020). June 1, 2021) ", Shevchenko added.

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