Can Ukrposhta have a bank: what the Deposit Guarantee Fund says
18 October 22:12
“Ukrposhta can have a bank, but it must be a profitable and financially viable organization.
This was stated by Olga Bilay, Managing Director of the Deposit Guarantee Fund, in an interview with RBC-Ukraine.
“I think it can, if it has a working business model. The reputation of the investor and whether this business is profitable are important. To manage the bank, Ukrposhta itself must be a strong and capable organization,” she said.
The managing director added that the NBU should determine the viability of the business model, if Ukrposhta offers one.
The role of the DGF arises only when the NBU declares a bank (including the one Ukrposhta wants to acquire) insolvent. The Fund may transfer the assets of such a bank to an investor or sell its property.
As a reminder, Ukrposhta has repeatedly announced its intention to start banking activities.
In June, the Verkhovna Rada passed a law on the development of financial inclusion in Ukraine. This will allow Ukrposhta and other companies with a large network to obtain limited banking licenses.
In the draft state budget published by the government in mid-September, it was noted that Ukrposhta remained unprofitable and needed to be recapitalized. Ukrposhta’s loss in 2024 amounted to UAH 413.2 million, and its debt burden remained extremely high at 98%.
