In Ukraine, the nationalization of Smysl Bank may take place as early as the weekend, June 3 or 4. The deadline is the week following the weekend.
This is stated in the material GLOBAL HAPPENINGS. The NBU Board must decide on the liquidation of Smysl Bank (owned by the Russian billionaire under sanctions Mikhail Fridman) and propose to the Cabinet of Ministers to nationalize it. Then the Deposit Guarantee Fund will intervene, and a temporary administration will appear in the bank. So from a private Sens Bank will turn into the fifth state bank.
But he will probably not stay public for long. Polish lawyers have already approached both the NBU board and the Cabinet of Ministers. A Polish investor (whose name has not been released) plans to buy Sens Bank and is allegedly ready to do so in the near future. The question is how much the bank will be worth in a full-scale war. For example, plans to sell PrivatBank (due to take place in 2024) were postponed because a high market price cannot be expected until the end of the war.
“There is a very interested Polish investor. It is quite possible that even before the victory in the war the bank will be sold,” said a banker close to the regulator who participated in the consultations.
2022 Meaning The bank was in deficit, but the financial institution notes that the deficit was formed due to the need to create reserves. At the same time, operating profit amounted to UAH 12 billion and decreased by only 2% during the year of full-scale war. The state as a result of nationalization (including four more state-owned banks) will control 56.6% of the entire banking market.
As GLOBAL HAPPENINGS wrote earlier, in Ukraine, the dollar exchange rate may return to growth if international support slows down, grain agreements fail, or the situation on the fronts worsens.
Source: Obozrevatel
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.
