Ukraine's National Bank denies granting approval for the acquisition of BTA Bank
The National Bank of Ukraine (NBU) has denied claims that it received and approved applications from third parties to acquire a significant stake in BTA Bank, according to a statement published on the regulator's Telegram channel on Wednesday.
"In light of the false information being spread by Telegram channels regarding an alleged irregular approval by the National Bank of Ukraine for a change in BTA Bank's ownership, we officially state that the NBU has not received any applications for acquiring a significant stake in BTA Bank. Consequently, no approvals have been granted by the regulator at either the management or committee level," the statement read.
The NBU stressed that a key prerequisite for approving such an acquisition is a thorough review of the investor and the sources of their funds in compliance with Ukrainian law.
"The active spread of false information by anonymous Telegram channels appears to be yet another attempt to discredit the regulator and undermine its future decisions regarding this bank," the central bank added.
Previously, on February 6, 2025, Ukraine's Antimonopoly Committee (AMCU) granted businessman Vyacheslav Mishalov – co-owner of Dnepropres Steel, internet provider Fregat, and former secretary of the Dnipro City Council (March 2016-October 2017) – permission to acquire a 70% stake in BTA Bank.
Mishalov is the son of prominent Dnipro-based businessman and developer Dmytro Mishalov. His former wife, Olena Sosedka (formerly Sosedka-Mishalova), co-owned Concord Bank with her sister before its license was revoked by the NBU in August 2023.
Additionally, on January 23, 2025, the AMCU granted Dmitry Shevchuk approval to acquire the remaining 30% of BTA Bank's shares. According to established procedures, the AMCU's approval must also be confirmed by the NBU for the transaction to proceed.
As of January 15, 2025, BTA Bank was wholly owned by the Kazakhstan-based BTA Bank, which itself is fully controlled by Kazakh citizen Kenes Rakishev. Earlier in 2025, Rakishev modified the bank's ownership structure: previously, he directly held 70.078% of the Kazakh bank, with the remaining 29.922% controlled through Kazakhstan-based FinCraft Group LLC.
As of January 1, 2025, BTA Bank ranked 58th out of 61 active banks in Ukraine by total assets, amounting to UAH 379.17 million. The bank's equity stood at UAH 224.67 million, with a net profit of UAH 27.26 million for the 2024 fiscal year, according to NBU statistics.