Nationalization of “Sens bank”: the state bought shares of the financial institution for 1 hryvnia
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On Friday, July 21, the Cabinet of Ministers decided to purchase all shares of “Sens Bank” from the Individual Deposit Guarantee Fund for 1 hryvnia. Thus, the bank becomes state-owned under the control of the Ministry of Finance.
Yaroslav Zheleznyak, first deputy chairman of the tax committee of the Rada, announced this.
The information of the EP was also confirmed by two sources related to the process.
Subsequently, the text of the resolution was published on the Government portal.
“To accept the proposal of the National Bank on the participation of the state, represented by the Ministry of Finance, in the withdrawal from the market of the systemically important bank of the joint-stock company “SENS BANK” (hereinafter – JSC “SENS BANK”) in the manner determined by paragraph 5 of the second part of Article 39 of the Law of Ukraine “On the System of Guaranteeing Deposits of Individuals”, – it says.
The government also decided to take note that the state, in the person of the Ministry of Finance, acquires the shares of JSC “SENSE BANK” in full for one hryvnia from the FGVFO, and the Ministry of Finance is the body for managing corporate rights for the shares of “Sense Bank” owned by the state.
According to the resolution, “State Export-Import Bank of Ukraine” (Ukreximbank) was identified as a depository institution in which a securities account was opened in the name of the state, to which shares of JSC “Sens Bank” will be credited.
The Ministry of Finance was instructed to ensure the conclusion of the contract for the purchase and sale of JSC “SENSE BANK” shares. Expenditures for the purchase of shares shall be made at the expense of budget funds provided by the Ministry of Finance for its maintenance. And ensure payment of the value of the specified shares after they are credited to the state securities account in Ukreximbank.
We remind you:
On Friday, July 21, the Individual Deposit Guarantee Fund introduced temporary administration in “Sens Bank”.
On the eve of the board of the National Bank made a decision withdraw “Sens Bank” from the market (until December 2022 – “Alfa Bank Ukraine”) and appealed to the Cabinet of Ministers with a request to nationalize the financial institution.
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