The National Bank of Ukraine (NBU) has determined that Ihor Smelyansky, CEO of Ukrposhta, does not meet the professional suitability requirements for the head of a financial payment service provider. As a result, the company must remove him from his management position within five working days.
The regulator reported that the relevant decision was adopted by the Committee on Supervision and Regulation of Banks and Oversight of Payment Infrastructure.
Within two months, Ukrposhta's authorized governing body must appoint a new head who meets the established professional suitability requirements.
The NBU initiated its assessment of Smelyansky following supervisory measures concerning the company's operations during 2023-2026. During that period, the regulator repeatedly imposed written warnings and fines on Ukrposhta for violations in the areas of payment services and financial monitoring, as well as shortcomings in risk management and internal control systems.
Following an interview and a review of the relevant materials, the NBU's qualification commission concluded that Smelyansky lacks sufficient knowledge of legislation, understanding of its requirements, and experience in properly applying them, all of which are necessary for the head of a financial payment service provider.
In February 2024, the NBU fined Ukrposhta UAH 17.39 million for inadequate financial monitoring procedures. In March 2026, the company received a fine of UAH 255,000 for failing to provide requested information and documents to the regulator in a timely manner. In May, it was fined UAH 1.7 million for shortcomings in corporate governance, internal controls, and risk management.
The latest fine, amounting to UAH 2.54 million, was imposed by the NBU in June 2026 for violations related to payment transactions, acquiring services, and the handling of information constituting payment service provider confidentiality. The regulator also issued the company a written warning.
As reported, Ukrposhta posted a net loss of UAH 204.8 million in January-March 2026, which was UAH 1.1 million, or 0.5%, higher than in the corresponding period of 2025, while its revenue declined by 0.1% to UAH 3.34 billion.
The company's equity decreased during the first quarter from UAH 2.208 billion to UAH 2.003 billion.
