In August 2026, the National Bank of Ukraine imposed a fine of 17.6 million UAH on the state-owned Ukrgasbank for violating financial monitoring laws.
According to an NBU statement dated September 8, the regulator identified shortcomings in the bank’s application of a risk-based approach and in its conduct of due diligence on customers.
In particular, the National Bank pointed to the bank’s failure to take necessary measures in a timely manner regarding certain customers and its failure to apply enhanced due diligence measures to customers classified as high-risk business relationships.
Another reason for the fine was Ukrgasbank’s failure to properly provide information and documents in response to the regulator’s requests.
“Ukrgazbank” was the only bank against which the NBU imposed sanctions in August for violations of financial monitoring legislation. At the same time, the regulator fined four non-bank financial institutions, including the insurance company “USG,” 30.8 million UAH.
“Ukrgazbank” is one of Ukraine’s largest banks and is state-controlled. The Ministry of Finance of Ukraine owns 94.9409% of its shares.
As of the end of 2025, the bank reported a profit of 4.9 billion UAH, compared to 3.4 billion UAH a year earlier. Its assets at the end of the year totaled 215.2 billion UAH, an increase of 8.2% over the year, and its share of the Ukrainian banking system’s total assets reached 5.4%. Ukrgasbank’s share of the banking system’s loan portfolio was 8.5%.
The bank has been operating since 1993 and provides corporate, retail, and investment banking services, as well as financing for energy, infrastructure, and environmental projects.
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