Bank Pivdenny has hired EY Baltic to review its compliance and integrity policies as Ukraine prepares to integrate with European Union financial markets.
The Ukrainian financial institution signed an agreement with the advisory firm to evaluate its internal programs against current EU regulatory requirements and recommendations from international financial institutions. The initiative aims to support the broader integration of the Ukrainian banking sector into the European Union financial space.
The independent audit will span several months and focus on two core operational areas within the bank. These include programs for anti-money laundering, combating the financing of terrorism, and sanctions regime enforcement, alongside compliance policies covering business integrity, ethical conduct, and anti-corruption measures.
Preparation for European regulation changes
Volodymyr Havlytskyi, deputy chairman of the board at Bank Pivdenny, said major changes to European legislation covering anti-money laundering and counter-terrorism financing will take effect in 2027. He described the upcoming rules as a global transition from national regulation to unified pan-European standards.
Havlytskyi said the bank initiated the early evaluation to prepare for the regulatory shift, noting that implementing European requirements is an investment in building trust with clients, international financial institutions, investors, and commercial partners.
Janis Kaulins, partner and financial services sector leader at EY Baltics, said the advisory team was pleased to head projects that bring Ukrainian lenders closer to EU standards. Kaulins added that Bank Pivdenny's review demonstrates a commitment to operational improvements in sanctions enforcement, anti-corruption compliance, and business integrity.
Corporate background and advisory operations
Bank Pivdenny is one of the largest private banks in Ukraine, operating for more than 30 years as a financial partner for corporate clients and individual customers. The institution ranks among the top three Ukrainian-owned private banks by asset size and has been recognized as a systemically important bank by the National Bank of Ukraine for eight consecutive years.
EY Baltic operates as a member firm of Ernst and Young Global, employing more than 900 specialists across the Baltic region. The organisation provides audit, tax, accounting outsourcing, strategy, transaction support, and consulting services to commercial enterprises and public sector organisations. EY Baltic noted its team possesses prior experience carrying out similar compliance projects across European Union member states and in Ukraine.
Following the conclusions of the multi-month review by EY Baltic, Bank Pivdenny plans to refine its internal governance frameworks to align with current recommendations and future regulatory updates from European financial institutions.
