NBU approves concept of simplified merger of banks

17:23, 16.03.2016 1 min read

The Board of the National Bank of Ukraine (NBU) on March 15, 2016 approved the concept of a simplified merger of banks, the deputy director of the department for registration and licensing issues at the NBU, Oleksandr Bevz, has said.

"The concept has been approved, but the procedure will be launched after it is approved by the parliament..We expect that the law will be submitted to the parliament in April," he said at a round table in Kyiv.

According to Bevz, the concept foresees that the procedure of banks merger can be carried out during three or four months.

"We expect that the banks, according to the concept, will be able to apply to the National Bank of Ukraine at the beginning of summer," he added.

The banker also said that the NBU is considering the possibility of transforming banks into financial companies if they do not comply with the regulations on capital and make no decision on merging with another bank.