Due to significant losses and the need for recapitalization, "Ukrposhta" risks not obtaining a banking license by the end of 2025 and losing its current financial services license. However, Ukrposhta CEO Ihor Smilianskyi hopes to complete the bank's establishment on time. This is reported by UNN with reference to Forbes.
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As the publication notes, "Ukrposhta" may not receive a license to create a financial inclusion bank by the end of the year, as its head planned, and risks losing its current financial services license.
Due to unprofitability, as indicated, "Ukrposhta" already needs recapitalization from the state.
This problem was included in the updated list of fiscal risks of the financial sector for 2025–2028, compiled by the National Bank
This creates additional fiscal risks or requires strategic decisions regarding the management of "Ukrposhta", including a possible refusal of the payment license and plans to acquire a banking license
Smilianskyi in a comment to Forbes Ukraine in mid-July said that he still expects the company to finally become a bank by the end of the year.
Currently, the top manager replied that he would not comment on the regulator's actions, noting that if "Ukrposhta" needed recapitalization, it would have approached the shareholder.
"There was no such appeal," Smilianskyi added.
What is happening with "Ukrposhta" and what are its chances of still becoming a bank
According to the National Bank's letter to Prime Minister Yulia Svyrydenko, "Ukrposhta" may need recapitalization of approximately UAH 820 million, and this need may increase by the end of the year. As of July 1, the company had negative equity of UAH 661.5 million, and its losses for half a year increased from UAH 869.5 million to UAH 1.4 billion, which indicates an inability to restore capital from operating activities.
Smilianskyi emphasized that "Ukrposhta" timely services loans from the EBRD and EIB, pays salaries and taxes, and continues to restore the network after damage."
According to YouControl reports, the company's total loss for 2022–2024 amounted to UAH 2.5 billion, of which UAH 2.1 billion falls on 2022–2023. Although in 2024, revenue increased by 8% and reached almost UAH 13 billion, taking into account inflation of 14.6%, there was no real growth.
Earlier, UNN wrote that Ukrposhta bank services will be available already in summer. The new bank will focus on basic financial services for the population in rural and frontline regions.
The Verkhovna Rada adopted in the second reading a bill on the creation of a financial inclusion bank based on "Ukrposhta".