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NBU Initiates Recognition of a Group of Associated Persons as Qualifying Shareholders in Bank for Investments and Savings PJSC

23 November 2018

Press Release


Investments and Savings PJSC. The respective decision was approved by the NBU’s Committee on Banking Supervision and Regulation and Oversight of Payment Systems on 19 November 2018.


In spite of the legislative requirements, the said persons did not provide the NBU with a package of documents to confirm the acquisition of the qualifying share under the procedure established by law.


The NBU has established that an individual within the group is an actual controller of a group of companies that hold the share of up to 10% in the bank. Furthermore, this individual’s relatives jointly hold over 4% of the bank’s shares. Thus, the group of associated persons holds the qualifying share in the bank.


The NBU has the right to recognize a person as a qualifying shareholder in a bank regardless of whether this person submits a notice to the NBU on the intention to acquire a qualifying share in the bank with a relevant package of documents.


Please note that the monitoring of banks’ ownership structures and the work towards ensuring their transparency are carried out on a regular basis. In addition, Ukrainian banks and their shareholders should note that they are required to comply with the legislative requirements regarding the disclosure of information on banks’ ownership structures and acquirement or increase of the qualifying share in a bank. In case of a breach of these requirements, the NBU can apply the corrective measures, such as a fine and/or a temporary ban on the voting right in a bank.


The bank’s ownership structure can have a significant impact on the bank’s compliance with the required economic ratios. According to Article 52 of the Law of Ukraine On Banks and Banking, the bank’s qualifying shareholders and the companies under their control are the bank’s related parties. Therefore, if new qualifying shareholders in the bank appear, this can influence the ratio of maximum credit exposure under bank’s related party operations (N9).

Last modification   23.11.2018