The Council of the National Bank of Ukraine held its first meeting today. The meeting's agenda included the following issues:
- election of the Chairman of the NBU Council and the Deputy Chairman;
- approval of the Annual Consolidated Financial Statements of the NBU for 2015, allocation of the central bank’s retained earnings and profit transfers from the NBU to the State Budget of Ukraine;
- decision on the appointment of Mr Yakiv Smolii as First Deputy Governor of the NBU;
- decision on the appointment of Ms Kateryna Rozhkova as NBU Deputy Governor; and
- decision on the appointment of Mr Roman Borysenko as NBU Deputy Governor
- the provision of technical support to the NBU Council.
The NBU Council members have elected Mr Bohdan Danylyshyn as Chairman of the NBU Council and Mr Tymofiy Mylovanov as Deputy Chairman. Mr Danylyshyn thanked the Council members for the confidence they placed in him.
“The NBU Council members will work toward finding a common ground while respecting each other's opinions. We can engage in deliberations and discussions various issues, but the most important thing is to find a common ground. We should work toward ensuring macrofinancial stability, thus contributing to the social and economic development of Ukraine,” said the newly appointed Chairman of the NBU Council. “I am delighted that we have a highly qualified NBU Council.”
Mr Mylovanov said that he has been looking forward to an opportunity to contribute to the development of one of the most prestigious and strategically important institutions.
In his turn, NBU Council member Mr Viktor Koziuk expressed his hope, saying, “The work of the NBU Council will further entrench the NBU’s independence, an institutional arrangement for the implementation of monetary policy aimed at price stability, which is geared towards accelerated growth based on the principles of competitiveness, inclusiveness, and deepening of the financial system.”
“The NBU plays a crucial role in the economic recovery of Ukraine and GDP growth. The stabilization of the banking system, lending growth, the restoration of confidence in banks, and industrial output growth will to a large extent depend on what monetary policy the NBU will pursue. The newly appointed Council will have much work to do,” said NBU Council member Mr Vasyl Furman.
Also, the NBU Council members have approved the Annual Consolidated Financial Statements of the NBU for 2015 and allocation of the central bank’s retained earnings.
“It is a great pleasure for me to join the work of the NBU Council. The decision taken by the NBU Council today will enable the NBU to transfer part of its profit (UAH 38.164 billion) to the State Budget of Ukraine. At the same time, I would like to stress that this amount will be transferred in several installments as agreed with the Ministry of Finance of Ukraine, in order to limit its impact on price stability,” said NBU Governor Ms Valeria Gontareva.
The NBU Council has also approved appointments to the NBU Board. Accordingly, the NBU Council appointed Mr Smolii as First Deputy Governor of the NBU. Ms Rozhkova and Mr Borysenko were appointed as Deputy Governors.
Mr Danylyshyn congratulated the NBU team on the new official appointments to the NBU Board.