NBU doubts professional competence of Ukrposhta CEO Smilianskyi
The National Bank doubts the professional competence of Ukrposhta CEO Ihor Smilianskyi.
This is stated in the message of the NBU, the Ukrainian News agency reports.
The NBU noted that Ukrposhta, as a licensed payment service provider, is subject to regulation and supervision by the National Bank. At the same time, Ukrposhta is not only a payment provider, but also an important element of the infrastructure of the Ukrainian payment market, both in terms of scale and specifics of its activities.
"That is why an inadequate system of corporate governance and internal control in a company such as Ukrposhta transforms from a local management problem into a systemic risk for the country's payment infrastructure," the National Bank emphasized.
As you know, on March 16, 2026, the Committee on Banking Supervision and Regulation of Banks and Oversight of Payment Systems of the National Bank of Ukraine unanimously decided to impose a fine of UAH 255,000 on Ukrposhta.
The fine was imposed exclusively for failure to submit to the NBU the information and documents requested by the regulator in accordance with the established requirements within the specified time limits. The violation was established based on the results of on-site supervision of the activities of a non-bank financial institution in the payment market.
In March 2024, the company was fined UAH 17,387,053 for gross violations of the legislation in the field of financial monitoring.
In December 2025, the National Bank applied a written warning for systemic violations of the requirements of the legislation governing activities in the payment market, in particular in the field of payment services, risk management system and statistical reporting.
"The corporate governance system built at Ukrposhta JSC does not meet the regulatory requirements of the National Bank and the best international practices. The fact that Ukrposhta JSC has not had a formed Supervisory Board for a long time, inadequate distribution of powers, and sole management of the institution by the CEO, who, in addition to operating activities, performs part of the functions of the Supervisory Board, have led to complex problems in the company's work. The systemic nature of the violations during 2024-2026, despite previous enforcement measures, calls into question the quality of corporate governance in the company and the professional competence of its head, CEO Ihor Smilianskyi," the NBU emphasized.
Consistent failure to comply with regulatory requirements, ignoring the NBU's requests and public attempts to present legitimate supervisory actions as "pressure" or "politically motivated steps" indicate an insufficient level of understanding by the management of the basic principles of financial market operations and the principles of good corporate governance.
The National Bank of Ukraine considers it critical to form a capable Supervisory Board of Ukrposhta JSC in the near future.
As the Ukrainian News agency earlier reported, the state postal operator Ukrposhta in 2007-2015 received USD 27.7 million in profit, while in 2016-2024 it made USD 74 million in losses (meaning net financial result after tax).
The current CEO of Ukrposhta, Ihor Smilianskyi, has been in his position since April 20, 2016, first as acting CEO, and since September 2018 - on a full-time basis.
Smilianskyi previously noted that his total income before tax, including salary and a 15% bonus for access to state secrets, amounts to UAH 11,723,286 per year - an average of UAH 970,009 per month, which is more than, for example, the salary of the US President.