Ukrainian President Petro Poroshenko introduced the newly appointed Governor of the National Bank of Ukraine, Valeriia Gontareva, to the central bank’s staff members.

He thanked Stepan Kubiv for his highly professional performance under the extremely harsh financial and economic conditions in Ukraine. "Stepan Kubiv is my political partner who will soon make a significant contribution to the development of Ukraine’s political system", said the President.

When introducing Valeriia Gontareva, Poroshenko pointed out that the banking system was facing serious challenges. "When Ukraine is effectively at war, when the NBU regional office in Donetsk gets taken over, when everybody thinks that payment systems will be paralyzed, and when treasuries are not operating in two regions, only a courageous person can decide to take responsibility for ensuring this key sector remains viable", Poroshenko said.

"I am convinced that you and I, for I also bear responsibility for this, will live up to the expectations of our society, the banking environment and the National Bank", he said.

When thanking NBU staff Kubiv said, "Life is a fleeting moment, but this fleeting moment entails a lot of responsibility. I spent 110 days on the Maidan, and 116 as governor of the National Bank of Ukraine. Ukrainians are patriots who are fighting for the independence, prosperity and territorial integrity of their country".

He also thanked journalists who made truthful reports and supported him as a person and a professional when he was "fighting a war" during those 226 days. Kubiv talked about a draft strategy for reforming the banking system for the period up to 2020, which was discussed at a recent meeting of the NBU Board, and which was approved, for the first time in Ukraine’s history, by the banking community, independent experts, international partners, and representatives of foreign financial institutions.

When introduced to NBU staff, NBU Governor Valeriia Gontareva thanked Stepan Kubiv for his efforts. She noted that he headed the National Bank during a crisis when Crimea was annexed and fighting in eastern Ukraine began.

"I regard the confidence that the parliament has given today to the President as a challenge up to which we all must live. I will do all I can", she said. Gontareva also said that at the moment financial conditions were much better than several months ago. This is evidenced, among other things, by an arrangement with the IMF. She also said that implementing the ambitious strategy for reforming the banking system for the period up to 2020 was an important task.

On June 19, 2014, Valeriia Gontareva was appointed as governor of the National Bank of Ukraine by the Verkhovna Rada (Ukrainian parliament) under Article 85, paragraph 1(18) of Ukraine’s Constitution.