The Ministry of Finance of Ukraine, the state-owned Ukrgasbank and Sens Bank, and N.M. Rothschild & Sons Limited, a member of the Rothschild & Co. group, have signed tripartite agreements for the provision of financial advisory services in preparation for the sale of the state’s stake in the two banks.
“Rothschild & Co was selected following a competitive bidding process. Rothschild & Co will provide services as part of a consortium with FinPoint, a Ukrainian investment banking firm,” according to a press release from the Ministry of Finance posted on its website on Friday.
According to the release, the advisor will provide comprehensive financial consulting services, including: coordinating due diligence on the banks’ operations—in part to determine the initial sale price—preparing information about the banks for potential investors, attracting investors, and facilitating the organization of a competitive bidding process for the sale of their shares.
“Engaging an international financial advisor is an important step in implementing the strategy to reduce the state’s stake in the banking sector. Our task is to ensure a transparent, competitive process for the sale of state-owned stakes in Ukrgasbank and Sens Bank, attract strategic investors, and create conditions for the further development of these institutions,” the press release quotes Finance Minister Serhiy Marchenko as saying.
The banks will provide updates on the next steps in preparing for privatization on their official websites, the press release also states.
As previously reported, on October 1, 2025, the government issued a directive on preparing for the sale of state-owned stakes in Sens Bank and Ukrgasbank; on October 29, the procedure for engaging an advisor was approved, and on March 31, 2026, a competition was announced to select the advisor. The advisor’s compensation will consist of a fixed portion and a success fee of up to 3% of the actual proceeds to the state budget from the sale of the stakes. The government also established a commission for the sale of state-owned stakes in banks.
N.M. Rothschild & Sons Limited is a company within the Rothschild & Co. group, registered in England and Wales, with its headquarters in London. It specializes in financial advisory services, corporate finance, and support for mergers and acquisitions (M&A).
Previously, the Rothschild & Co. group advised Ukraine on the restructuring of its sovereign debt; it was also hired by Ukrzaliznytsia this year to restructure its Eurobonds.
As part of its programs with the International Monetary Fund, Ukraine has repeatedly committed to engaging an advisor for the privatization of Sens Bank and Ukrgasbank; the initial deadline was set for the end of September 2024, and the latest deadline—under the new program—is the end of July of this year.
According to data from the National Bank, as of July 1, 2026, Ukrgazbank, with total assets of 228.74 billion UAH, ranked seventh, while Sens Bank, with 157.73 billion UAH, ranked ninth among Ukraine’s 59 banks.
