State-run Oschadbank (Kyiv) is leaving the Association of Ukrainian Banks (AUB), the bank has reported on its website.

According to the report, the bank's Board of Directors made the decision on October 18.

"To our opinion, AUB, which under its regulations aims at helping to draw up and improve legislative base for banks operations, has not fulfilled its functions for a long period of time. Activities of the association could be qualified as ineffective, as it does not analyze lawmaking, does not analyze law enforcement practice to reveal issues of concern. It does not fulfill the main task to protect the rights and interests of association member banks," the bank said.

According to the report, Oschadbank has halted active participation in AUB activities and payment of fees since 2012.

"Now public statements of AUB Head Suhoniako [Oleksandr Suhoniako] force Oschadbank Board to stop cooperation officially and we announce it in public. We are still committed to professional and constructive discussions of complicated aspects of the functioning of the banking system and finding solutions. We do not approve attempts of involving the banking system in a new wave of populism and political insinuations," the bank said.