The document expands the circle of investors and updates the rules for determining the price and conducting the auction in accordance with the recommendations of the World Bank.
The Verkhovna Rada adopted in the first reading the bill No. 11474 on the details of the privatization of state-owned banks. MP Yaroslav Zheleznyak announced this on Telegram on Thursday, September 5.
The document was supported by 249 representatives.
“This is required by the World Bank, so the law must be adopted in two readings in September,” wrote the representative of the people.
Previously, the parliamentary committee on finance, tax and customs policy recommended the adoption of a bill on the details of the sale of blocks of state-owned shares in the authorized capital of banks in the first reading.
The document provides:
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expanding the circle of potential investors whose sale the state is willing to consider;
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allowing the sale of any state shares in the bank (and not only 100% of state shares, as provided for in the current law);
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increasing requirements for legal entities that can be engaged by the state as financial sales advisors;
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attracting international donors to participate in the selection of financial advisors for the sale and the procedure for the sale itself;
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updating the rules for determining the price and conducting the auction in accordance with the recommendations of the World Bank;
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requirements for a purchase and sale agreement in accordance with market practices;
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preventing negative influence on the sale procedure (for example, stopping the sale) from former beneficial owners or current minority shareholders.
By early 2024, state banks, including Privatbank and Sense Bank, owned 53.6% of the banking sector’s net assets and held 64.5% of household funds.
Let us remind you that the net profit after tax of Ukrainian banks for January-June 2024 reached 79 billion Hryvnia, which is 16.8% more than the same period last year.
Source: korrespondent
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