Zelenskyy on Sense Bank: guaranteed depositors' rights and sector stability

President Volodymyr Zelenskyy has stated that Sense Bank [a Ukrainian bank that had had Russian shareholders prior to being nationalised – ed.] will operate as usual, and the rights of depositors and the stability of the banking sector are guaranteed.

Source: President’s evening address

Quote: "Today, the procedure regarding one of the systemic banks, which belonged to Russian oligarchs, ended. Now, it has public management.

The rights of depositors and the resilience of the banking sector are guaranteed. In the future, this bank will operate as usual."

Details: Zelenskyy thanked the team of the National Bank of Ukraine, the Cabinet of Ministers, and the Deposit Guarantee Fund for "the quick and effective steps within the legal procedure".

Quote: "Another asset of the Russian oligarchs, who still continue to work within the system existing in Russia, is under the control of our state."

Background:

• On 21 July, the Cabinet of Ministers accepted the decision to purchase in full the shares of Sense Bank from the deposit guarantee fund of individuals for UAH1. Thus, the bank becomes state-owned under the management of the Ministry of Finance.
• Individuals' deposit guarantee fund introduced temporary administration in Sense Bank.
• On 22 July, Ukraine became the owner of 100% of Sense Bank's shares, Dmytro Kuzmin was appointed chairman of the management board. 

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