NBU Receives Documents Necessary To Approve Sberbank Sale From Prospective Buyers On April 10

The National Bank of Ukraine received the package of documents necessary to approve the sale of Sberbank from the prospective buyers on April 10.

The press service of the National Bank of Ukraine announced this to Ukrainian News Agency.

The National Bank of Ukraine received from the investor the package of documents necessary to approve acquisition of a significant stake in Sberbank.

According to the package of documents, the investor is Said Gutseriyev, a citizen of Britain and Russia who intends to acquire a 77.5% stake in Sberbank.

Norvik Bank (JSC Norvik Banka), which intends to acquire a 22.5% stake in Sberbank, is also expected to submit a package of documents soon.

The documents received from Gutseriyev have been registered, and they are currently under consideration.

In accordance with Article 34 of the law of Ukraine "On Banks and Banking Operations," the National Bank of Ukraine must review the package of documents within three months of receiving them.

When considering the package of documents, the National Bank of Ukraine must check whether the investor's business reputation meets the requirements established in its regulatory acts, the investor's financial state, and the sources of its funds.

In addition, the National Bank of Ukraine has the right to prohibit a legal entity or an individual from acquiring or increasing its substantial stake in a bank in the cases specified in Article 34 of the law of Ukraine "On Banks and Banking Operations."

As Ukrainian News Agency earlier reported, Sberbank reached agreement on sale of its Ukrainian subsidiary bank to Said Gutseriyev (the son of the Russneft oil company's owner Mikhail Gutseriyev) and Grigory Guselnikov in March.

President Petro Poroshenko introduced the National Security and Defense Council's decision to impose sanctions on five banks with Russian state capital on March 16.

Ukraine imposed one-year sanctions on five Russian state banks operating in the country (Sberbank, VTB Bank, BM Bank, Prominvestbank, and VS Bank) on March 23. The sanctions prohibit them from transferring capital to related parties outside Ukraine.