Cabinet decides to nationalize Sense Bank and buy it for UAH 1

The Cabinet of Ministers has decided to nationalize Sense Bank and buy it for UAH 1.

Member of Parliament from the Holos faction, First Deputy Chairman of the Parliamentary Committee on Finance, Tax and Customs Policy Yaroslav Zhelezniak announced this on Telegram, Ukrainian News Agency reports.

"The government decided to buy the bank for UAH 1. Sense becomes a state bank. The managing body - the Ministry of Finance," he wrote.

On July 20, the Board of the National Bank, guided by the norms of the laws "On the National Bank of Ukraine," "On Banks and Banking," "On the System of Guaranteeing Deposits of Individuals," decided to withdraw from the market a systemically important bank Joint-Stock Company Sense Bank and appealed to the Cabinet of Ministers of Ukraine for the participation of the state in this procedure.

After that, the Deposit Guarantee Fund introduced an interim administration in the bank.

As Ukrainian News Agency earlier reported, in April 2022, the NBU agreed on a confidant of Alfa-Bank (Ukraine) Simeon Djankov, who received the right to vote on shares owned by shareholders whose reputation was recognized as not safe.

Currently, Djankov, within his powers, participates in the management of the bank.

In July 2022, Alfa-Bank (Ukraine) decided to rename itself to Sense Bank.

In March 2023, the National Bank announced that it had received a letter from a potential investor, Sense Bank (formerly Alfa-Bank (Ukraine)), but had not received a corresponding package of documents.

At the end of May 2023, the Verkhovna Rada passed the law on nationalization of the Central Bank, which belongs to the Russian oligarch Mikhail Friedman.