The National Bank of Ukraine has published information about the results of a review of documents submitted by potential acquirers seeking approval of the acquisition of qualifying holdings in banks during Q3 2016.
From July-September 2016, the NBU issued decisions regarding nine packages of documents submitted to the NBU for approval of the acquisition of qualifying holdings. Having reviewed the documents submitted by potential acquirers, the NBU granted five approvals for the acquisition of qualifying holdings in banks and issued four bans prohibiting such acquisitions. “Decisions regarding some packages of documents were taken upon the completion of the beneficial ownership identification process. In some cases, the acquisition of qualifying holdings in banks was related to an increase in the bank’s authorized capital (for instance, ProCredit Bank JSC) or an intragroup corporate restructuring, as in the case of UniCredit Bank (Ukrsotsbank PJSC),” said Deputy Director of the NBU Registration and Licensing Department Mr Oleksandr Bevz.
The NBU continuously monitors banks’ ownership structures and applies enforcement measures against banks that fail to bring their ownership structures into compliance with transparency requirements.