The Government transfers PIN Bank to Ukrposhta to create a “postal bank”

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The government transfers shares in PIN Bank confiscated from Russian oligarchs to Ukrposhta to create a postal bank. This will save up to UAH 5 billion and improve access to banking services across the country.

The government has decided to create a postal bank on the basis of shares of the First Investment Bank, which previously belonged to Russian oligarchs. This was announced by Prime Minister of Ukraine Denys Shmyhal during a government meeting, UNN reports.

Today, the Government has decided to transfer the shares of the First Investment Bank, previously owned by Russian oligarchs, to the Ministry of Infrastructure, with the subsequent transfer to Ukrposhta. Thus, we are creating a postal bank,

- Shmyhal said.

He says that Ukrposhta has branches across the country, which will open up new opportunities for Ukrainians who do not use digital tools.

Receiving assistance, social benefits, ordering goods and medicines will now be within walking distance. In addition, this decision will save the state up to UAH 5 billion over the next 3-4 years. These funds will be used to finance priority budget items,

- the Prime Minister added.

Recall 

In 2023, the HACC confiscated shares in the Ukrainian PIN Bank from Russian businessman Yevgeny Giner.

At the same time, Ukraine is ready to privatize Sense Bank, which also once had Russian owners, and is considering selling part of Ukrnafta and transferring the Chornomorsk port to a concession as part of a public-private partnership.

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