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All Russia-owned banks in Ukraine said up for sale

The National Bank of Ukraine says it is the best solution.

All Russia-owned banks in Ukraine said up for sale

All Ukraine-based banks with Russian state capital have been put up for sale, National Bank of Ukraine (NBU) deputy head Kateryna Rozhkova has said on the air of Inter TV.

"We know for sure that all banks with Russian state capital working in Ukraine today are in talks on a potentially possible sale. We, as the regulator of the banking market, consider it to be the best way to leave the Ukrainian market. Because there is no way of saying these banks can further develop in Ukraine under the circumstances. This is a civilized way to sell a bank," she said.

She added that the banks had topped up their capital and have enough assets to service their commitments to clients.

According to Rozhkova, the Deposits Guarantee Fund covers 8.5bn hryvnyas out of 21bn hryvnyas of individuals' deposits in banks with Russian state capital.

On 16 March, Ukraine introduced year-long sanctions against Sberbank, VS Bank, Prominvestbank, VTB Bank and BM Bank by banning them from transferring their funds abroad. The sanctions were introduced after their parent banks in Russia started servicing individuals with documents issued by the self-proclaimed Donetsk and Luhansk people's republics.

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