Ukraine's government orders sale of Sense Bank, proceeds to fund defence needs
Ukrainian Prime Minister Serhiy Koretskyi announced that the Finance Ministry has been tasked with speeding up the sale of Sense Bank, with the proceeds to go toward funding the Defence Forces.
Ukrainian Prime Minister Serhiy Koretskyi has announced that the Finance Ministry has received a clear directive to accelerate the sale of the state-owned Sense Bank. He stressed that the process must be carried out with maximum transparency, competitiveness and efficiency.
According to Koretskyi, the funds raised from the bank's sale will go toward financing the needs of Ukraine's Defence Forces. He also said the Finance Ministry, together with the National Bank, must resolve all accumulated problems within the bank and ensure transparent, high-quality corporate governance.
Background
The announcement follows events on 19 August, when the National Anti-Corruption Bureau (NABU) conducted searches at the office of Sense Bank's supervisory board, including at the suspended board chairman Mykola Hladyshchenko. NABU and the Specialized Anti-Corruption Prosecutor's Office (SAPO) uncovered a scheme allegedly organized to legalize funds used to pay bail for former energy and justice minister Herman Halushchenko.
The bank stated that it is cooperating with law enforcement and providing the necessary information, but declined to give further details, citing restrictions on disclosing pre-trial investigation data. On the evening of 19 August, Ukraine's Cabinet of Ministers decided to suspend Mykola Hladyshchenko from his position as chairman of Sense Bank's supervisory board.
