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Ukrposhta decides to buy bank

Source : 112 Ukraine

The acquired bank will be small, without branches or with a small number of them and without a portfolio of troubled assets
15:59, 17 May 2021

Ukrainian Postal Service (Ukrposhta)
Open source

Ukraine's national postal operator Ukrposhta begins the process of acquiring a small bank, announces a tender for an appraiser. It was announced by Ukrposhta Board Chairman Ihor Smelyansky on his Facebook page. 

"We will start the week with positivity, especially since we have been working towards it for four long years. And when the decision (albeit a compromise) has been approved by all respected parties, Ukrposhta begins the process of acquiring the bank. We are announcing a tender for an appraiser who can help us in this serious matter," he wrote.

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According to him, the acquired bank will be small, without branches or with a small number of them and without a portfolio of troubled assets.

"Now there are two or three such goals, with which we will begin negotiations. I really hope to close the deal within the next five to six months," he added.

Meanwhile, PrivatBank will be listed for sale as GlobalCapital reported citing Head of the National Bank Kyrylo Shevchenko.

“Our banking sector owns substantial potential for international investors. We expect that soon the international banking groups will purchase shares at the Ukrainian state banks. According to our plans, soon, the largest bank asset of Ukraine – PrivatBank – will be listed for sale. We believe that privatization of PrivatBank that owns 20% of the Ukrainian banking market will become an interest for the most prestigious international investors, including from the U.S. and the EU,” Shevchenko stated.

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