The Supreme Court confirmed the fine of Oschadbank in the amount of half a million due to the “Card of the Kyivan”

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The Supreme Court recognized as legitimate the decision of the Antimonopoly Committee regarding Oschadbank’s abuse of its monopoly position, as a result of which the bank was fined over UAH 500,000.

She reported about it press service AMCU

The court of cassation left unchanged the decisions of the courts of previous instances and recognized the legal decision of AMKU against Oschadbank.

Thus, the state bank was fined at the end of 2021 for abusing its monopoly position during the implementation of the “Cards of a Kyivan” project.

The committee established that Oschadbank was a single bank participating in the project and independently determined the procedure and conditions for opening and maintaining card accounts.

In particular, in the period from June 2016 to December 2021, the bank required the connection of a paid SMS notification service in order to receive the “Card of a Kyivan”. In addition, during the registration of cards in Oshchad 24/7 mobile banking, the paid SMS notification service was activated automatically, and the owners of “Cards of Kyiv” had to agree to such conditions and incurred financial costs.

The Committee recognized such actions as a violation of the Law on the Protection of Economic Competition and imposed a fine of 503,000 hryvnias on Oschadbank.

It is noted that at the time of the AMCU decision, the bank stopped the violation, but continued to challenge it in courts of all instances.

We remind you:

Antimonopoly Committee fined JSC “Oschadbank” for UAH 503.6 thousand for non-competitive terms of service of “Kyyanina Card”. The bank declared its disagreement with the decision of AMCU.

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