A fine of nearly 2 million hryvnias: why the National Bank fined “Ukrposhta”
19 May 17:45
The National Bank of Ukraine has fined JSC “Ukrposhta” 1.7 million hryvnias, according to a statement from the NBU, as reported by "Komersant Ukrainian".
The NBU stated that “Ukrposhta,” as a provider of financial payment services, failed to ensure the proper functioning of its corporate governance system, internal control system, and risk management system.
“The National Bank identified violations of legislation governing activities in the payment market based on the results of off-site supervision of JSC “Ukrposhta” and taking into account the results of an inspection of the company conducted as of November 1, 2025,” the statement reads.
“Ukrposhta” is required to pay the fine within five business days of receiving the NBU’s decision.
This is not the first time the NBU has fined Ukrposhta
As a reminder, in March, the National Bank of Ukraine imposed a penalty of 255,000 UAH on JSC “Ukrposhta”
According to the statement, the fine was imposed for violating the requirements of Ukrainian legislation governing activities in the payment market, in connection with the failure to submit the requested information to the National Bank.
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“Ukrposhta” was required to pay the fine within five business days of receiving the decision from the National Bank’s Committee on Supervision and Regulation of Banking Activities and Oversight of Payment Infrastructure.
This is not the first time the company has faced allegations; back in December, the NBU noted non-compliance with several key regulations and limited itself to a written warning. This time, however, the violation stems from Ukrposhta’s failure to provide the regulator with the necessary information or documents in a timely manner. According to the decision, the company must pay the fine within five business days.
The “Conflict” Between the NBU and Ukrposhta
A peculiar conflict between Ukrposhta and the NBU has been ongoing for several years and is linked to the company’s intentions to enter the banking market, according to Ukrposhta CEO Ihor Smilianskyi. He has long been promoting the idea of creating a postal bank, but has not yet been able to implement it. According to him, this is primarily due to the “biased attitude of the regulator.”
Over the past few years, Ukrposhta has attempted to acquire three institutions: Alpari, Sich, and PINbank. Throughout this time, the National Bank has opposed these moves, as they would violate the terms of the memorandum between Ukraine and the IMF, which called for a reduction in the state’s share and concentration within the banking system.
Most recently, the company had hoped to acquire PINbank, which was owned by Russian oligarch Yevgeny Giner, president of the Russian football club CSKA. The NBU declared the bank insolvent and put it up for public auction.
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