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National Bank of Ukraine Improves Banks’ Registration and Licensing

27 March 2018


The National Bank of Ukraine (NBU) has approved amendments to the Regulation On the Rules Governing Registration and Licensing of Banks and Opening the Standalone Units.


This document was furnished for the purpose of the Law of Ukraine On Amendments to Certain Legal Acts of Ukraine on Facilitating Business and Attracting Investments by Securities Issuers (hereinafter referred to as the “Law”). 


The Law also amends Article 42 of the Law of Ukraine On Banks and Banking prescribing that a bank should take the responsibility to ensure that bank managers comply with qualification requirements, and for independent directors - secure compliance with independence requirements as well, and conduct on-going monitoring of the aforesaid. The bank managers should meet the fit and proper requirements regarding their business reputation and professional suitability.


Professional suitability of a bank manager shall be determined as a set of knowledge, professional and managerial experience of the person necessary for the proper performance of the official duties of the bank manager, in view of the business plan and strategy of the bank, as well as the functional load and responsibilities of the particular manager of the bank.


The NBU shall deny approval of the appointment of a bank manager (candidate for a managerial position), if he/she does not meet the qualification requirements, and for the independent directors – and/or requirements regarding independence.


In order to implement amendments to Ukrainian law the Resolution shall amend the Regulation On the Rules Governing Registration and Licensing of Banks and Opening the Standalone Units as follows:

·      set list of documents to be submitted by the bank to verify compliance of the bank managers with qualification requirements;

·      outlined approval procedure of the NBU for positions of bank managers (applicants for positions of bank managers).


The above amendments approved by NBU Board Resolution No. 27 On Amendments to the Regulation on the Procedure for Registration and Licensing of the Banks and Opening Standalone Units dated 26 March 2018 will come into effect on 28 March 2018.



Last modification   27.03.2018