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NBU Approves of Members for Ukreximbank Supervisory Board

The National Bank of Ukraine (NBU) has approved two supervisory board members of the state-owned Ukreximbank based on the results of tests and interviews conducted by the Qualification Committee jointly with the NBU Board.

On 13 February, the Committee on Banking Supervision and Regulation and Oversight of Payment Systems has approved the following candidates:

  • Laszlo Urban (independent director)
  • Dmytro Kapliuk (representative of the state from the Verkhovna Rada of Ukraine)

Thus, at present the supervisory board of Ukreximbank has filled almost all positions, i.e. it comprises 8 members (of 9) approved by the NBU. Since 27 December 2019, after the Cabinet of Ministers of Ukraine ceased authority of Steven Fisher as a member of the Ukreximbank supervisory board,  this position has been vacant.

Please be reminded that in August 2019, the NBU approved the following members of the Ukreximbank supervisory board: Viktoriya Strakhova (a state representative from the President of Ukraine) and Yuriy Butsa (a state representative from the Cabinet of Ministers of Ukraine). Later, in September 2019, the following members were approved: Steven Fisher (independent director), Dominique Menu (independent director), Sergiy Konovets (independent director), Dimitri Chichlo (independent director), and Olyana Gordiyenko (independent director).

For reference:

Following the corporate governance reform held at state-owned banks in 2018, supervisory boards of these banks must consist of nine persons: six independent directors, one representative appointed by the President, one by the Cabinet of Ministers, and one by the parliament.

In order to decide on the candidates to become independent supervisory board members at state-owned banks, the Cabinet of Ministers of Ukraine appoints the selection committee comprising one representative of the President of Ukraine, three representatives of the Cabinet of Ministers of Ukraine, and one representative of the relevant parliamentary committee that deals with banking-related issues. The Cabinet of Ministers of Ukraine shall set the requirements for the selection committee members.

Candidates for the positions of independent supervisory board members are selected on a competitive basis.

Supervisory board members must also be approved by the NBU. If a candidate for the position of a supervisory board member is not approved, the NBU has the right to request for the candidate to be replaced in line with the Law of Ukraine On Banks and Banking.

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