The Ministry of Finance intends to privatize Ukrgasbank. If this fails, it will be transferred as a division of Oschadbank or Export-Import Bank.
Deputy Finance Minister Artem Shevalev stated that another state-owned bank, the Ukrainian Bank for Reconstruction and Development, has already been transferred to the State Property Fund for sale. He also stated that the operations of the Land Bank and Rodovid Bank are likely to be curtailed.
Earlier, First Deputy Finance Minister Ihor Umansky stated that the state's stake in Ukrgasbank would be sold to a foreign investor, possibly the European Bank for Reconstruction and Development.
As a reminder, Ukrgasbank was previously owned by Vasyl Horbal. The state acquired it in 2008-2009.
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