KYIV. Feb 17 (Interfax-Ukraine) – The strategy of reforming the state banking sector, developed by the government, foresees the possibility of a full privatization of strategic Oschadbank and Ukreximbank in the long term, while the decision on the amount of shares for sale and the terms of sale will be made by the Cabinet of Ministers by the end of 2020.
This is stated in the “Basis of strategic reform of the public banking sector,” approved by the government.
According to the document, posted by the Ministry of Finance on the official website, it is planned in the medium term (by mid-2018) to sell at least 20% of Oschadbank and Ukreximbank to a qualified investor or an international financial institution through a transparent tender.
“To this end, the supervisory councils of the strategic banks will be required in 2018 to select the preferred method of selling shares and agree it with the Ministry of Finance. The final decision on the sale of shares will be made by the Cabinet of Ministers no later than the first quarter of 2018,” reads the document.
