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State appoints new managers of Sense Bank

They will take to work once temporary administration is done.

State appoints new managers of Sense Bank

Dmytro Kuzmin has been appointed board chairman of Sense Bank, the NBU press service has said.

"The Ministry of Finance of Ukraine and the Deposit Guarantee Fund have entered into a contract for the sale and purchase of 100% of the shares of the systemically important Sense Bank JSC, according to which the bank becomes state-owned," it noted.

In addition, the Deposit Guarantee Fund has appointed new managers of the bank. The National Bank of Ukraine approved the respective candidates for the positions upon the recommendation of the Ministry of Finance.

Dmytro Kuzmin, former board chairman of Universal Bank, has been appointed board chairman of Sens Bank JSC.

It is added that the new management will take up its duties from the moment the interim administration is terminated by the Fund.

On 21 July, the Cabinet of Ministers decided to acquire the full shares of Sense Bank from the Deposit Guarantee Fund for UAH 1. Thus, Sense Bank becomes a state-owned financial institution under the management of the Ministry of Finance.

The Deposit Guarantee Fund promises minimal restrictions for Sense Bank's customers during the period of its nationalisation until the morning of Monday, 24 July. No loans will be issued during this period.

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