The Ukrainian Ministry of Finance has been tasked with stepping up the sale of nationalised Sense Bank, Prime Minister Serhiy Koretskyi announced. An international investment advisor has been brought in to guide the process, with proceeds designated to support the country's Defense Forces.
Koretskyi said that involving an international advisor will help ensure maximum transparency, competitiveness, and efficiency throughout the privatization process. He added that allocating funds from the sale of nationalised Russian assets like Sense Bank to meet military needs holds major symbolic value.
Alongside the sale, the Ministry of Finance and the National Bank of Ukraine must resolve all accumulated problems within the financial institution, according to Koretskyi. He stated that the government and central bank need to work together to establish transparent and high-quality corporate governance.
Sense Bank is one of Ukraine's largest commercial lenders. Formerly known as Alfa-Bank Ukraine, the institution was nationalised by the state to strip control from sanctioned Russian owners following the full-scale invasion of Ukraine. Kyiv has since sought to stabilize the bank and return it to private ownership.
Corruption probe and leadership restructuring
The push to sell the lender comes against the backdrop of an ongoing law enforcement operation code-named Forest Gump, led by the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialised Anti-Corruption Prosecutor's Office (SAP). The agencies are Ukraine's main anti-corruption bodies responsible for investigating high-level financial crimes.
Law enforcement officials stated that funds for bail in the Midas case, likely involving former Energy Minister Herman Halushchenko, were laundered through Sense Bank. Investigators alleged that the criminal ring included a deputy head of the Office of the President, a former member of parliament, the chairman of the state bank's board, and the chairman of its supervisory board.
Following the revelations, the National Bank of Ukraine deemed Sense Bank supervisory board chairman Mykola Hladyshenko non-compliant with independence requirements. The central bank has demanded that the Ukrainian government terminate his authority immediately and choose a replacement for the supervisory board.
