The National Bank of Ukraine is nearing the finish line in its efforts to ensure the transparency of Ukrainian banks’ ownership structures. The updated information on the progress made in verifying Ukrainian banks’ ownership structures is available at the link here.
The regulator’s efforts resulted in the identification of each bank’s de facto controllers and the application of enforcement measures as mandated by applicable Ukrainian laws. With regard to some banks, legal proceedings are under way to finalize the verification process or take measures to remedy breaches of ownership structure transparency requirements.
The NBU has also published information on the outcome of the approval process in respect of documents submitted by banks seeking approval of the acquisition of qualifying holdings in banks. Over this period, the regulator has issued 36 decisions in respect of the documents submitted to the NBU, including 24 approvals for the acquisition of qualifying holdings in banks and 12 bans prohibiting the acquisition of qualifying holdings. Please follow the link above to view this information.
Additionally, on 1 April 2016, the NBU Committee on Banking Supervision, Regulation, and Payment Systems Oversight issued approvals the acquisition of qualifying holdings in the following banks:
- CB GLOBUS PJSC – to Mr D. Ye. Polkovsky CB GLOBUS PJSC, authorizing the acquisition of an indirect qualifying shareholding equal to 25.18% of the share capital.
- VECTOR BANK PJSC – to Mr A.D. Perkal, authorizing the acquisition of an indirect qualifying shareholding equal to 100% of the share capital.
- CB INVESTBANK PJSC – to Mr O.M. Kotkovskyi, authorizing the acquisition of a direct qualifying shareholding equal to 41.2577%.
- MOTOR-BANK PJSC – to Mr O.V. and Mr. V. O. Boguslaiev, authorizing the acquisition of a an indirect qualifying shareholding equal to 96.4655% (jointly).
- BANK FOR INVESTMENT AND SAVINGS PJSC – to Mr S.P. Ivakhiv and Mr S.M. Lagur, authorizing the acquisition of a direct qualifying shareholding equal to 17.5% (each.
- Smartbank PJSC – to Mr S.V. Sigorskykh, authorizing the acquisition of a direct qualifying shareholding equal to 10%.
- The NBU has also adopted a decision to recognize the following individuals as qualifying shareholders irrespective of the formal ownership:
- Mr G.A. Hurtovyi in Platinum Bank PJSC.
- Mr Ye.V. Kazmin in COMMERCIAL INDUSTRIAL BANK PJSC.
The recognition of the following individuals as qualifying shareholders does not automatically amount to the approval of the acquisition of qualifying shareholdings in banks, as the respective documents are still under consideration at the NBU and need to be finalized. At the same time, the regulator points out that these individuals are in a position to exercise control over these banks, irrespective of whether or not they have formalized the acquisition of corporate rights. Once these individuals are recognized as qualifying shareholders, they bear responsibility for the performance of their banks as mandated by laws and regulations.
The NBU draws attention to the fact it is involved in continuous efforts to identify ownership structures and keeps the public informed about the outcome of the verification process on a regular basis.