On 22 October, the European Bank for Reconstruction and Development (EBRD) and Oschadbank (Ukraine’s state savings bank), have agreed to work together towards a pre-privatisation engagement that will help commercialise this bank, improve its corporate governance and attract a robust investor.
The step is in line with the development strategy of Oschadbank for the period of 2021-2024 and the government’s Principles of Strategic Reform of the Banking Sector. These include reducing the state’s share in the banking sector from 60% to 25% by 2025.
As part of its engagement with Oschadbank, the EBRD expects that the lender will join the country’s Deposit Guarantee Fund. This step will further level the playing field in the banking sector and promote fair conditions for the privatisation process.
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